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I still get that there is something missing, so please copy my images above and add whats needed using paint windows app or anything similar
I still get that there is something missing, so please copy my images above and add whats needed using paint windows app or anything similar
Required information (The following information applies to the questions displayed below.] The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 $ $ 43,000 10,200 63,000 52,000 21,300 35,600 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 210,000 345,000 15,000 80,000 120,000 1,400,000 70% Compute the following amounts the month f May using T-accounts 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. *Do not consider any underapplied or overapplied overhead. Answer is not complete. Required information April 30 Raw Materials (RM) 43,000 15,000 Indirect materials 210,000 186,000 DM used April 30 olo RM purchases DM used DL used Overhead applied May 31 Work in Process (WIP) 10,200 625,400 Cost of goods manuf. 186,000 265,000 185,500 21,300 OOO May 31 52.000 Finished Goods (FG) Inventory 63,000 $ 652,800 625.400 Cost of goods sold April 30 Cost of goods manuf. Indirect materials Indirect labor Other overhead costs Factory Overhead 15,000 185,500 Overhead applied 80,000 120.000 35,600 29.500 Answer is complete and correct. Income statement (partial) Sales $ 1,400,000 Cost of goods sold (652,800) Gross profit $ 747,200
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