Question: Can anyone help? I've shown the T-charts that need to be used for thjs problem Required information [The following information applies to the questions displayed

 Can anyone help? I've shown the T-charts that need to beused for thjs problem Required information [The following information applies to thequestions displayed below.) The following information is available for Lock-Tite Company, whichproduces special-order security products and uses a job order costing system, April
Can anyone help? I've shown the T-charts that need to be used for thjs problem 30 May 31 Inventories Raw materials $43,000 $ 132,000 Work in process
1e, 2ee 21,300 Finished goods 63,000 35,600 Activities and information for May
Raw materials purchases (paid with cash) 210,000 Factory payroll (paid with cash)
345,000 Factory overhead Indirect materials 15,000 Indirect labor 80,000 Other overhead costs

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, April 30 May 31 Inventories Raw materials $43,000 $ 132,000 Work in process 1e, 2ee 21,300 Finished goods 63,000 35,600 Activities and information for May Raw materials purchases (paid with cash) 210,000 Factory payroll (paid with cash) 345,000 Factory overhead Indirect materials 15,000 Indirect labor 80,000 Other overhead costs 120,000 Sales (received in cash) 1,400, eae Predetermined overhead rate based on direct labor cost 70% Compute the following amounts for the month of May using T-accounts. 1. Cost of direct materials used. 2. Cost of direct labor used. 3. Cost of goods manufactured. 4. Cost of goods sold." 5. Gross profit. 6. Overapplied or underapplied overhead. *Do not consider any underapplied or overapplied overhead. Raw Materials (RM) RM purchases DM used Indirect materials 0 Finished Goods (FG) Inventory Cost of goods manuf. Cost of goods sold 0 Work in Process (WIP) Cost of goods manuf. DM used DL used Overhead applied 0 Factory Overhead Gross profit Other overhead costs x 0

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