Problems 19-8 19-9

t.nal 2/ iday s Fida Chapter 19 Job Order Costing 827 The following information is available for products and uses a job order costings which produces special-order security Exercise 19-7 Cost flows in a job order costing system April 30 May 31 P1 P2 P3 P4 Raw materials Work in process . Finished goods . . . . $43,000 s $2.000 10.200 21,300 35,600 63,000 Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) . . . Factory overhead 120,000 70% Predetermined overhead rate based on direct labor cost Compute the following amounts for the month of May. 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 overhcad. Check (3) $625 Journal entries for Ise information in Exercise 19-7 to prepare journal entries for the following events for the month of May. Exercise 19-8