The following selected ledger accounts of the Lakewood Manufacturing Company are for May (the fifth month of its accounting year):

Required

a. Determine the amount of indirect materials requisitioned for production during May.

b. How much indirect labor cost was apparently incurred during May?

c. Calculate the manufacturing overhead rate based on direct labor cost.

d. Was manufacturing overhead for May under- or overapplied, and by what amount?

e. Was manufacturing overhead for the first five months of the year under- or overapplied, and by what amount?

f. What is the cost of production completed in May?

g. What is the cost of goods sold in May?

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May 1 balance May debits Materials Inventory 40,000 May credits.. 125,000 145,000 Factory Overhead May debits 160,000 May 1 balance May credits.. 14,000 171,000 Work-in-Process Inventory May 1 balance 28,000 May credits. 480,000 May debits: Direct materials.. 129,000 Direct labor. 180,000 Manufacturing overhead... 171,000 Factory Payroll Payable May debits 200,000 May 1 balance May credits.. 50,000 196,000 Finished Goods Inventory May 1 balance May debits 102,000 May credits... 480,000 500,000