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HELP!!! The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. Check my work Required
HELP!!! The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system.
Check my work Required information [The following information applies to the questions displayed below.) 10 points The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. eBook April 30 May 31 Hint $ Print $50,000 9,400 55,000 53,000 20, 100 33,200 References Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost 197,000 200,000 10,000 46,000 91,000 1,800,000 55% Compute the following amounts for the month of May using T-accounts. 1. Cost of direct materials used. Check my work Compute the following amounts for the month of May using T-accounts. 10 points 1. Cost of direct materials used. 2. Cost of direct labor used. 3. Cost of goods manufactured. 4. Cost of goods sold.* 5. Gross profit. 6. Overapplied or underapplied overhead. eBook Hint Print *Do not consider any underapplied or overapplied overhead. References Raw Materials (RM) 50,000 197,000 Work in Process (WIP) 9,400 April 30 RM purchases Cost of goods manuf. Indirect materials DM used April 30 DM used DL used Overhead applied May 31 May 31 247,000 9,400 Finished Goods (FG) 55,000 Factory Overhead 10,000 April 30 Cost of goods sold Indirect materials Overhead applied Check my work Require Required information 10 points Raw Materials (RM) 50,000 197,000 Work in Process (WIP) 9,400 April 30 RM purchases Cost of goods manuf. Indirect materials DM used April 30 DM used DL used Overhead applied May 31 eBook Hint May 31 247,000 9,400 Print References Finished Goods (FG) 55,000 Factory Overhead 10,000 April 30 Cost of goods sold Indirect materials Overhead applied Cost of goods manuf. Indirect labor 46,000 Other overhead costs 91,000 May 31 55,000 Underapplied OH 147,000 ivay ul vvvvv| Required information 10 points eBook Hint Income statement (partial) Sales Cost of goods sold Gross profit Print References
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