Job Costing

National Widget Company (NWC) uses a job costing system to accumulate cost information for its manufacturing process and allocates manufacturing overhead using a rate of $9 per direct labor hour. At the start of May, the following jobs were in process and had accumulated costs as indicated:

Job Number	Direct Material	Direct Labor	Allocated MOH
51	$ 7,500	$ 8,200	$ 3,280
52	19,000	4,400	1,760

During May, NWC incurred the following direct material and direct labor costs on its jobs:

Job Number	Direct Material	Direct Labor
51	$ 5,000	$ 8,900
52	1,000	4,000
53	7,200	9,800
54	16,800	14,200

By the end of May, jobs 51, 52 and 54 were complete and jobs 52 and 54 had been sold. Based on the information above, determine the following amounts (Hint: Think about the status of each job on May 31, and which inventory account its costs are in).

1. Work-in-process inventory at May 31

2. Finished goods inventory at May 31

3. Cost of Goods Sold for May

PLEASE SHOW WORK