April 30 May 31
Inventories
Raw materials $ 49,000 $ 43,000
Work in process 9,900 21,000
Finished goods 52,000 34,000
Activities and information for May
Raw materials purchases (paid with cash) 193,000
Factory payroll (paid with cash) 300,000
Factory overhead Indirect materials 11,000
Indirect labor 69,000
Other overhead costs 94,000
Sales (received in cash) 1,100,000
Predetermined overhead rate based on direct labor cost 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
Answers: 1
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April 30 May 31
Inventories
Raw materials $ 49,000 $ 43,000
Work in process 9,9...
Inventories
Raw materials $ 49,000 $ 43,000
Work in process 9,9...
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