Required information Use the following information to answer questions The following information applies to the questions displayed below) The following information is available for Lock The Company, which produces special order security products and inesa job order costing system $40,000 $31.000 10.000 52.000 19.500 10.00 125.000 Inventaries Raw materials work in process Finished goods Activities and Information for My water chases (td with cash Factory nayroll (rid with cash Factory overhead Indirect terlals Indirect labor the overhead costs Sales (received in cash Predetermined overhead redirect labor cost 10, 69.00 95,000 1.500.000 55 I arch o RI N M Exercise 19.7 Cost flows in a job order costing system LO P1, P2, P3, P4 Compite the following amounts for the month of Mayusing accounts Cast of direct materials used 2. Cout of direct laborused 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 Workshoes

ch o E Check my w Required information "Do not consider any underapped or ove applied overhead WoW Thisted Glory Fabry O ch ti E L V B N M C Required information Use the following information to answer questions [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 $ $ 31,800 10,000 52,090 40,000 19,500 34,900 Inventories Row materiais 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 185,000 300,000 10,000 69,000 95,000 1,500,000 55% Exercise 19.7 Cost flows in a job order costing system LO P1, P2, P3, P4 Compute the following amounts for the month of May using T-accounts. Exercise 19.7 Cost flows in a job order costing system LO P1, P2, P3, P4 Compute the following amounts for the month of May using Taccounts. 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 overopplied overhead. Raw Materials (RM) Work in Process (WIP) Finished Goods (FG) Inventory Factory Overhead Required information Finished Goods (FG) Inventory Factory Overtid 0 Income statement partial) V 5 0