Question: i just cannot figure whats left out. Required information [The following information applies to the questions displayed below.) The following information is available for Lock-Tite

i just cannot figure whats left out. i just cannot figure whats left out. Required information [The following informationapplies to the questions displayed below.) The following information is available forLock-Tite Company, which produces special-order security products and uses a job order

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 $ $ 35,000 9,200 60,000 49,000 19,900 34,100 Inventories Raw materials Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead Indirect materials Indirect labor Other overhead costs Sales (received in cash) Predetermined overhead rate based on direct labor cost 180,000 150,000 16,000 34,500 100,000 1,800,000 55% 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. *Do not consider any underapplied or overapplied overhead. Answer is not complete. Raw Materials (RM) 35,000 16,000 Indirect materials April 30 April 30 Cost of goods manuf. RM purchases 180,000 150,000 DM used DM used DL used Overhead applied May 31 Work in Process (WIP) 9,200 354,800 150,000 115,500 100,000 19,900 49,000 Finished Goods (FG) Inventory Factory Overhead 0 0 X Answer is not complete. Income statement (partial) $ 0

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