The following information reflects Walczak Company’s job order production activities for May.

Raw materials purchases	$16,000
Factory payroll cost	15,400
Overhead costs incurred
Indirect materials	5,000
Indirect labor	3,500
Other factory overhead	9,500

Walczak’s predetermined overhead rate is 150% of direct labor cost. Costs are allocated to the three jobs worked on during May as follows.

	Job 401	Job 402	Job 403
In-process balances on April 30
Direct materials	$3,600
Direct labor	1,700
Applied overhead	2,550
Costs during May
Direct materials	3,550	$3,500	$1,400
Direct labor	5,100	6,000	800
Applied overhead	?	?	?
Status on May 31	Finished (sold)	Finished (unsold)	In process

Required

1. Determine the total cost of:

a. The April 30 inventory of jobs in process.

b. Materials used during May.

c. Labor used during May.

d. Factory overhead incurred and applied during May and the amount of any over- or underapplied overhead on May 31.

e. Each job as of May 31, the May 31 inventories of both goods in process and finished goods, and the goods sold during May.

2. Prepare summarized journal entries for the month to record:

a. Materials purchases (on credit), the factory payroll (paid with cash), indirect materials, indirect labor, and the other factory overhead (paid with cash).

b. Assignment of direct materials, direct labor, and overhead costs to the Goods in Process Inventory account. (Use separate debit entries for each job.)

c. Transfer of each completed job to the Finished Goods Inventory account.

d. Cost of goods sold.

e. Removal of any under applied or over applied overhead from the Factory Overhead account. (Assume the amount is not material.)

3. Prepare a manufacturing statement for May.