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Ch 15 Homework 2 o Required Information Part 1 of 2 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. 1111 points April May 31 $36,880 $ Sa, 0 9,90 18,988 55,00 34,7ee bok 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 182,09 288.898 Hirt 6.68 46,000 94.500 1,800,000 55% Print References Compute the following amounts for the month of 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 April 30 RM purchases Raw Materials (RM) 30.000 182.000 0,000 indirect material 162,000 DM used 50.000 May 31 Work in Process (WP) April 9,000 DM used 102 000 AWAN DLER 154.000 Overhead apolled ANNA Cost of goods manut May 31 325.000 MILAN Factory Overhead Indirect materials 0.000 vorhead aplied Indirect labor 40,000 Finished Goods (FG) Inventory April 30 Cost of goods manut Other overhead costs 14.500 May 31 Underapplied OH 140.500 5 1.800.000 Sales Cost of goods sold Gross prot 5 1.300.000 ME Ch 15 Homework 2 o Required Information Part 1 of 2 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. 1111 points April May 31 $36,880 $ Sa, 0 9,90 18,988 55,00 34,7ee bok 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 182,09 288.898 Hirt 6.68 46,000 94.500 1,800,000 55% Print References Compute the following amounts for the month of 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 April 30 RM purchases Raw Materials (RM) 30.000 182.000 0,000 indirect material 162,000 DM used 50.000 May 31 Work in Process (WP) April 9,000 DM used 102 000 AWAN DLER 154.000 Overhead apolled ANNA Cost of goods manut May 31 325.000 MILAN Factory Overhead Indirect materials 0.000 vorhead aplied Indirect labor 40,000 Finished Goods (FG) Inventory April 30 Cost of goods manut Other overhead costs 14.500 May 31 Underapplied OH 140.500 5 1.800.000 Sales Cost of goods sold Gross prot 5 1.300.000 ME
