Question
Vision Corporation had only one job in process during MayJob XYZand had no finished goods inventory on May 1. Job XYZ was started in April
Vision Corporation had only one job in process during MayJob XYZand had no finished goods inventory on May 1. Job XYZ was started in April and finished during May. Data concerning that job appear below:
Beginning work in process inventory- $5,200
Cost charged to the job during May:
Direct materials- $8,200
Direct labor= $2,200
Manufacturing overhead applied-$4,200
Units completed- 120
Units in process at the end of May- 0
Ending finished goods inventory- $11,550
In May, overhead was overapplied by $320. The company adjusts its cost of goods sold every month for the overhead that was underapplied or overapplied.
1) What is the total manufacturing cost charged to the job during the period?
2) What is the cost of good manufactured and unit product cost in May?
3) Determine the unadjusted cost of goods sold for May.
4) Determine the cost of goods sold adjusted for overapplied overhead.
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