the following information is available for lock tite company

15-7 compute the following amounts for the month of may

15-8 use the information in excercise 15-7 to prepare journal entries

15-9

15-10

15 Order Cong Analysis 1. Prepare journaltres for the following i s through in July a. Direct materials used in production . The sale of Job 120 b. Direct labo used in production Cestopood for 120 Overhead applied 2. Compute the July 31 balances of the We e d Code accounts. As there are so jobs in Fished e vents of June 30) t Exercise 15-6 Recording events in job oder con P1 P2 PN Using Eb 15.15 as a guide propune r ish events through for a company in its first month of operations R i als purchased 500.000 De materials used is production 36 o dsti d Padforfaty polls0000 odaci 51900 12.000 is for in d. Pald cash for other actual overheads 511,475 .. Applied overhead at the rate of 125 of direct labor cost. . Transferred cost of completed to finished goods. 556.800 Sold jobs on account for 5.000. The jobs had a cost of 556.00 Exercise 15-7 Coot ows in a job order costing sitem P1 2 3 4 The following information is available for lack The Cowany, which produces special order security podacts and a job onder costing system May 31 21.00 10.200 61600 1210.000 34000 Work in process................................ Fished goods... Activities and information for May Raw material purchases old win cash . Factory payroll paid with cash ..... Factory overhead Indirect materials Indirect labor............... .. Other Overhead costs Sales received in cast Predetermined overtad rate based on director cost 1 15.000 - 10.000 120.000 1.400.000 . Compute the following amounts for the month of May. 1. Cost of direct materials used. 4. Cost of goods sold Beg Puso - 2. Cost of direct labor used. 5. Gross profit 3. Cost of goods manufactured. 6. Overapplied or underapplied overhead. Check 15625400 Exercise 158 Journal entles for materials Use information in Exercise 15-7 to prepare journal entries for the following events for the month of May 1. Raw materials purchases for cash. .. Romotorisk monton for an 3. Indirect materials usage. 2. Direct materials usage Exercise 15.0 for labor Use information in Exer 1. Direct labor usage. 2. Indirect laborsage 15-7 to prepare journal entries for the following events for the month of Man 3. Total payroll paid in cash. Exercise 15-10 Use information in Exercise 15-7 to prepare journal entries for the following events for the month of May. 1. Incurred other overhead costs (record credit to Other Accounts). 2. Applied overhead to work in process