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 | ||||||
Inventories | |||||||
Raw materials | $ | 38,000 | $ | 32,000 | |||
Work in process | 9,400 | 19,700 | |||||
Finished goods | 50,000 | 34,900 | |||||
Activities and information for May | |||||||
Raw materials purchases (paid with cash) | 186,000 | ||||||
Factory payroll (paid with cash) | 100,000 | ||||||
Factory overhead | |||||||
Indirect materials | 14,000 | ||||||
Indirect labor | 23,000 | ||||||
Other overhead costs | 113,500 | ||||||
Sales (received in cash) | 1,300,000 | ||||||
Predetermined overhead rate based on direct labor cost | 55 | % | |||||
Prepare journal entries for the above transactions for the month of May.
Required information [The following information applies to the questions displayed below.] The following information is available...
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 Inventories Raw materials $ 38,000 $ 32,000 Work in process 9,400 19,700 Finished goods 50,000 34,900 Activities and information for May Raw materials purchases (paid with cash) 186,000 Factory payroll (paid with cash) 100,000 Factory overhead Indirect materials 14,000 Indirect labor 23,000 Other overhead costs...
[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 Inventories Raw materials $ 38,000 $ 32,000 Work in process 9,400 19,700 Finished goods 50,000 34,900 Activities and information for May Raw materials purchases (paid with cash) 186,000 Factory payroll (paid with cash) 100,000 Factory overhead Indirect materials 14,000 Indirect labor 23,000 Other overhead costs 113,500 Sales...
Required Information Use the following information to answer questions [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 $38,000 9,400 66,000 38,000 19,700 34,200 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...
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 9.100 55,000 56,000 20,700 34,500 179,000 100,000 Inventores 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...
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 $ $ 43, 9,400 64,000 43, eee 20,500 34,5ee 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...
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 $ $43,200 9,400 64,000 43, eee 20, see 34,500 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...
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 Inventories Raw materials 59,000 20,800 $44,000 9,400 56,000 Work in process Finished goods Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead 34,300 188,000 150,000 Indirect materials 15,000 Indirect labor 34,500 Other overhead costs 99,000 1,500,000...
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. May 31 $ 49,000 20,000 34,000 April 30 Inventories Raw materials $ 40,000 Work in process 9,600 Finished goods 55,000 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)...
[The following information applies to the questions displayed below.) The following information is available for Lock-Tite Company, which produces special-order security job order costing system. April 30 May 31 $ $36,000 9,000 60,000 48,000 18,800 33,100 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...
[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 Inventories Raw materials $ 29,000 $ 38,000 Work in process 9,600 18,800 Finished goods 65,000 33,600 Activities and information for May Raw materials purchases (paid with cash) 190,000 Factory payroll (paid with cash) 300,000 Factory overhead Indirect materials 17,000 Indirect labor 69,000 Other overhead costs 97,500 Sales...