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Please help me complete my graph. I posted earlier and their answer was complete different from the graphs I am showing. Please help, will hit
Please help me complete my graph. I posted earlier and their answer was complete different from the graphs I am showing. Please help, will hit like.
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 4 $ $30,000 9,300 67,800 47,000 20,108 33,500 185,000 109,000 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 7,900 23,000 119,500 1,100,000 55% 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. X Answer is not complete. Raw Materials (RM) Work in Process (WIP) April 30 30.000 April 30 Cost of goods manuf. 7,000 Indirect materials 161,000 DM used RM purchases 185.000 DM used DL used Overhead applied May 31 May 31 47,000 0 Finished Goods (FG) Inventory Factory Overhead Indirect materials April 30 Cost of goods manuf Indirect labor Other overhead costs May 31 0 Underapplied OH 0Step by Step Solution
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