Question

how do i calculate?

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 $ $32,000 9, 300 66,000 37,000 19,200 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 cost 187,000 250,000 11,000 57,500 94,500 1,000,000 55% 1. Direct labor usage. 2. Indirect labor usage. 3. Total payroll paid in cash. Prepare journal entries for the above transactions for the month of May.

Answer 1

Answers Given that ... * obis in formalion is available for Lock - Tite company a Produce special ordes security Products and usej a job ordes costing System. : Debit Direct labour usage - Particular Event - Event 192,500.00 workin Proceni Credit 1250.000-57500) 3.192800.00 Particular To factory wages Payable (To record direct labour.usage 192.500,00 Event Debit (2) - In direct Event usage Particular manufacturing over head 57,50000

Event Credit ③ Particular . To factory wages Payable 57,500.00 Debit. 1 . 3) Total Payroll Paid in cash - Event Particular factory wages 250,000.00 . payable credit particular Event 250,000.00 To cash