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Required information [The following information applies to the questions displayed below.) The following information is...

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Accounting

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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 $ $46,200 9,209 54,00 36,000 19,700 34,700 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 193,000 250,000 17,000 57,500 114,500 1,700,000 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." "Do not consider any underapplied or overapplied overhead. Work in Process (WIP) 9,200 April 30 RM purchases April 30 Raw Materials (RM) 46,000 193.000 17,000 Indirect materials 17,000 ndi 186 000 DM used 36,000 May 31 9,200 Finished Goods (FG) Inventory Factory Overhead

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