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Do not consider any underapplied or overapplied overhead. Work in Process (WIP) 9,400 April 30 RM purchases Raw Materials (R
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Raw Materials Work in process
RM - April 30 $          43,000 $         8,000 Indirect materials WIP - April 30 $           9,400 $     5,22,950 Cost of goods manufactured
RM Purchases $      1,84,000 $   1,76,000 DM used DM used $     1,76,000
DL used $     2,31,000
Overhead applied $     1,27,050
RM - May 31 $          43,000 WIP - May 30 $         20,500
Finished Goods Factory overhead
FG - April 30 $          64,000 $   5,52,450 Cost of Goods Sold Indirect material $           8,000 $     1,27,050 Overhead applied
Cost of goods manufactured $      5,22,950 Indirect labor $         69,000
Other overhead cost $         95,500
Finished goods - May 31 $          34,500 Balance $         45,450
Income statement Factory Payroll
Sales $    14,00,000 Factory Payroll $     3,00,000 $        69,000 Indirect labor
Less: Cost of goods sold $     -5,52,450 $     2,31,000 DL used
Gross Profit $      8,47,550
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