4 2. Norris Decorators manufactures special order window coverings. During May, Norris's transactions included the following:...

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4 2. Norris Decorators manufactures special order window coverings. During May, Norris's transactions included the following: Work in process inventory, May 1 Factory equipment depreciation exp. Work in process inventory, May 31 Raw materials purchased Raw materials inventory, May 1 Raw materials inventory, May 31 Finished goods inventory, May 1 a. b. $ 160 Sales 2,800 240 11,500 Selling expenses Factory supervision wages expense Indirect labor cost incurred Factory utilities expense 160 280 Direct labor cost incurred 700 Finished goods inventory, May 31 $23,000 2,100 2,300 400 900 5,400 950 How much is the cost of direct materials issued to production during May? Show the product cost amounts that would be reported on Norris' balance sheet as of May 31, and describe the nature of each amount. O 4 2. Norris Decorators manufactures special order window coverings. During May, Norris's transactions included the following: Work in process inventory, May 1 Factory equipment depreciation exp. Work in process inventory, May 31 Raw materials purchased Raw materials inventory, May 1 Raw materials inventory, May 31 Finished goods inventory, May 1 a. b. $ 160 Sales 2,800 240 11,500 Selling expenses Factory supervision wages expense Indirect labor cost incurred Factory utilities expense 160 280 Direct labor cost incurred 700 Finished goods inventory, May 31 $23,000 2,100 2,300 400 900 5,400 950 How much is the cost of direct materials issued to production during May? Show the product cost amounts that would be reported on Norris' balance sheet as of May 31, and describe the nature of each amount. O

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