# 1. Required information (The following information applies to the questions displayed below.) The following information is...

###### Question:

1.

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  25,000 9,200 54,000 55,000 19,800 34,300 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 190,000 250,000 9,000 57,500 103,500 1,300,000 550 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. Raw Materials (RM) Work in Process (WIP) April 30 RM purchases Indirect materials DM used May 31 Finished Goods (FG) Inventory Factory Overhead Income statement (partial)
1. Raw materials purchases for cash. 2. Direct materials usage. 3. Indirect materials usage. Prepare journal entries for the above transactions for the month of May. View transaction list Journal entry worksheet < ABC Record raw material purchases for cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal
1. Incurred other overhead costs (record credit to Other Accounts). 2. Applied overhead to work in process. Prepare journal entries for the above transactions for the month of May. View transaction list Journal entry worksheet Record other factory overhead costs (excluding indirect materials and indirect labor). Record credit to Other Accounts. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal
1. Raw materials purchases for cash. 2. Direct materials usage. 3. Indirect materials usage. Prepare journal entries for the above transactions for the month of May. View transaction list Journal entry worksheet < ABC Record raw material purchases for cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal

#### Similar Solved Questions

##### A 1200 - turn solenoid is coaxial with a single-turn conducting ring as shown in the...
A 1200 - turn solenoid is coaxial with a single-turn conducting ring as shown in the figure. The length of the solenoid is 20.0 cm, and the current applied to it varies in time according to the relation I(t) = I_0(1 - e^-t/tau), where I_0 = 3.00 A and tau = 2.00 s. The diameter of the solenoid is 4....
##### What is social psychology experimental manipulation by the researchers?- definition and example
What is social psychology experimental manipulation by the researchers?- definition and example...
##### 12 only C, H, anorganic acid Completely When 0.472 g of an organic acid Containing only...
12 only C, H, anorganic acid Completely When 0.472 g of an organic acid Containing only C, H, and o was burned Completely in the presence et Op it gives 0842 g CO2 and 0.3449 42o. Given that the molar mass is known to be approximately 1222.24 almol. Find the emperical and molecular formula. a Chemic...
##### Question 2 If 6.2 grams of calcium nitrate, Ca(NO3)2, react with excess sodium phosphate, Na3PO4, according...
Question 2 If 6.2 grams of calcium nitrate, Ca(NO3)2, react with excess sodium phosphate, Na3PO4, according to 3Ca(NO3)2 + 2Na3PO4Ca3(PO4)2 + 6NaNO3 what is the theoretical yield of sodium nitrate, NaNO3, in grams? (Enter your answer to the hundredth nlace...
##### How do you find the local maximum and minimum values of  f(x) = 2 x + 3 x ^{ -1 }  using both the First and Second Derivative Tests?
How do you find the local maximum and minimum values of  f(x) = 2 x + 3 x ^{ -1 }  using both the First and Second Derivative Tests?...
##### 4. A pharmacy employee combined 2 fluid ounces of 75% (w/v) povidone-iodine cleaner with 4 fluid...
4. A pharmacy employee combined 2 fluid ounces of 75% (w/v) povidone-iodine cleaner with 4 fluid ounces of a 10% (w/v) povidone-iodine topical solution. Calculate the resulting strength of povidine-iodine mixture (in %w/v)....
##### 1. Suppose X has p.d.f. f(x) = .513r?e^^*, x > 0. Using the data below, find...
1. Suppose X has p.d.f. f(x) = .513r?e^^*, x > 0. Using the data below, find the maximum likelihood estimate for A 6.73 3.63 6.11 2.55 4.12 6.71 6.27 8.51 7.91 5.14 8.46 6.08 7.97 4.49 3.34 2.344.17 6.57 5.05 5.22 2. Using the estimate you found in Problem 1, give the maximum likeihood estimate f...
Question 24 Beckham Corporation has semiannual bonds outstanding with nine years to maturity that are currently pick $794.08. If the bonds have a coupon rate of 7.25 percent, then what is the gfter-tax cost of debt for Bedtants m arginal tax rate is 35 percent? Complete the calculation using the eff... 1 answer ##### Question 6 Neste Berhad has offered to pu each payable as RM30 per RM20 on the... Question 6 Neste Berhad has offered to pu each payable as RM30 per RM20 on the first call and 40,000 shares and pro-rata ad has offered to public for subscription 30,000 ordinary shares of RM100 "yable as RM30 per share on application. RM30 per share on allotment, the first call and RM20 on the ... 1 answer ##### Problem 6 Using Stokes' Theorem, we equate F dr curl F dA. Find curl F- PreviousS... Problem 6 Using Stokes' Theorem, we equate F dr curl F dA. Find curl F- PreviousS us Problem ListNext Noting that the surface is given by (1 point) Calculate the circulation, Fdr7in z - 16-x2 - y2, find two ways, directly and using Stokes' Theorem. dA The vector field F = 6y1-6y and C is the... 1 answer ##### Please answer all parts even the one I answered cuz I think it is wrong pl... please answer all parts even the one I answered cuz I think it is wrong pl 5. Tartaric acid, is used as a flavoring in foods and beverages. It is used also as potassium sodium tartrate known as Rochelle salt, as a mild laxative. OH O и но OH Tartaric acid Draw bond-line (with wedge... 1 answer ##### Question Help The Thai Fusion, a local Thai restaurant, expects sales to be$1,235,000 in January....
Question Help The Thai Fusion, a local Thai restaurant, expects sales to be $1,235,000 in January. Its average customer restaurant bill is$65. Only 30% of the restaurant bills are paid with cash; 60% are paid with credit cards and 10% with debit cards. The transaction fees charged by the credit and...
##### 5. (This problem, due to Steven Strogatz, appeared in the New York Times.) Before going on...
5. (This problem, due to Steven Strogatz, appeared in the New York Times.) Before going on vacation for a week, you ask your spacey friend to water your ailing plant. Without water, the plant has a 90% chance of dying. Even with proper watering, it has a 20% chance of dying. The probability that you...
##### 5. We might power a Crooke's tube using a Tesla coil transformer with 20 turns on...
5. We might power a Crooke's tube using a Tesla coil transformer with 20 turns on the primary; 10,000 turns on the secondary, using 2.0 A from a 6 VAC 60 Hz sine wave source to the primary. a) what RMS voltage would occur across the secondary? b) what would the peak voltage from the output? c) w...