The following information is available for Lock-Down Company, which produces special-order security products and uses a job
Question:
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. Over-applied or under-appliedoverhead.
Transcribed Image Text:
April 30 May 31 Inventories Raw materials ...._ . Goods in process^._. $40.000 50,000 9,500 33,200 9.600 60,000 Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead 189,000 400,000 casn...-. 4....-. Indirect materials. Indirect labor Other overhead costs 2,000 75,000 00,500 1,200,000 Predetermined overhead rate based on direct labor cost ... 65%
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Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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