Morrow Corporation had only one job in process during May-Job X32Z-and had no finished goods inventory on May 1. Job X32Z was started in April and finished during May. Data concerning that job appear below:
___________________________________ Job X32Z
Beginning balance ................................ $7,500
Charged to the job during May .........................
Direct materials .................................. $11,700
Direct labor ....................................... $2,000
Manufacturing overhead applied .............. $4,000
Units completed .................................... 100
Units in process at the end of May .................. 0
Units sold during May ............................... 40
In May, overhead was overapplied by $300. The company adjusts its cost of goods sold every month for the amount of the overhead that was under applied or over applied.
Required:
1. Using the direct method, what is the cost of goods sold for May?
2. What is the total value of the finished goods inventory at the end of May?

Answer rating: 100% (QA)

Using the data poovideod Total cost 7600 11700 2000 4000 25200 Total unit porod... View the full answer