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The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. Required information The following information
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system.
Required information 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. Inventories Raw materials Work in process Finished goods $31,000 51,e0e 19,200 33,309 9,500 52,000 Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead 193,000 380,000 Indirect materials Indirect labor Other overhead costs 9,000 69,000 99,000 1,400,00e Sales (received in cash) Predetermined overhead rate based on direct labor cost 55% 1. Raw materials purchases for cash. 2. Direct materials usage. 3. Indirect materials usage Step by Step Solution
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