Morrow Corporation had only one job in process during May—Job X32Z—and had no finished goods inventory on May 1. Job X32Z was started in April and finished during May. Data concerning that job appear below:
Job X32Z | ||
Beginning balance | $ | 5,100 |
Charged to the job during May | ||
Direct materials | $ | 8,200 |
Direct labor | $ | 2,100 |
Manufacturing overhead applied | $ | 4,100 |
Units completed | 100 | |
Units in process at the end of May | 0 | |
Units sold during May | 45 | |
In May, overhead was overapplied by $310. The company adjusts its cost of goods sold every month for the amount of the overhead that was underapplied or overapplied.
Required:
1. Using the direct method, what is the cost of goods sold for May?
2. What is the total value of the finished goods inventory at the end of May?
3. What is the total value of the work in process inventory at the end of May?
1) cost of goods sold
Beginning balance | 5100 |
Direct material | 8200 |
Direct labor | 2100 |
Manufacturing overhead applied | 4100 |
Total | 19500 |
Unit | 100 |
Unit cost | 195 |
Cost of goods sold = 45*195-310 = 8465
2) Finished goods = 55*195 = 10725
3) Work in process = $0
Morrow Corporation had only one job in process during May—Job X32Z—and had no finished goods inventory...
Morrow Corporation had only one job in process during May—Job X32Z—and had no finished goods inventory on May 1. Job X32Z was started in April and finished during May. Data concerning that job appear below: Job X32Z Beginning balance $ 5,100 Charged to the job during May Direct materials $ 8,200 Direct labor $ 2,100 Manufacturing overhead applied $ 4,100 Units completed 100 Units in process at the end of May 0 Units sold during May 45 In May, overhead...
Morrow Corporation had only one job in process during May-Job X322—and had no finished goods inventory on May 1. Job X32Z was started in April and finished during May. Data concerning that job appear below: Job x32Z 5,100 $ $ Beginning balance Charged to the job during May Direct materials Direct labor Manufacturing overhead applied Units completed Units in process at the end of May Units sold during May eu 8,200 2,100 4,100 100 0 45 In May, overhead was...
Morrow Corporation had only one job in process during May—Job X32Z—and had no finished goods inventory on May 1. Job X32Z was started in April and finished during May. Data concerning that job appear below: Job X32Z Beginning balance $ 6,100 Charged to the job during May Direct materials $ 10,900 Direct labor $ 3,100 Manufacturing overhead applied $ 5,100 Units completed 210 Units in process at the end of May 0 Units sold during May 95 In May, overhead...
Morrow Corporation had only one job in process during May—Job X32Z—and had no finished goods inventory on May 1. Job X32Z was started in April and finished during May. Data concerning that job appear below Morrow Corporation had only one job in process during May-Job X322—and had no finished goods inventory on May 1. Job X32Z was started in April and finished during May. Data concerning that job appear below: Job X32Z 5,700 A Beginning balance Charged to the job...
Morrow Corporation had only one job in process during May—Job X32Z—and had no finished goods inventory on May 1. Job X32Z was started in April and finished during May. Data concerning that job appear below: Job X32Z Beginning balance $ 7,500 Charged to the job during May Direct materials $ 11,700 Direct labor $ 3,900 Manufacturing overhead applied $ 5,900 Units completed 290 Units in process at the end of May 0 Units sold during May 135 In May, overhead...
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Morrow Corporation had only one job in process during May-Job X322—and had no finished goods inventory on May 1. Job X32Z was started in April and finished during May. Data concerning that job appear below: Job X32Z 6.000 $ $ Beginning balance Charged to the job during May Direct materials Direct labor Manufacturing overhead applied Units completed Units in process at the end of May Units sold during May 9.000 3.000 5.000 200 80 In May, overhead was overapplied by...
Morrow Corporation had only one job in process during May-Job X322—and had no finished goods inventory on May 1. Job X32Z was started in April and finished during May. Data concerning that job appear below: Job X32Z 5,400 Beginning balance Charged to the job during May Direct materials Direct labor Manufacturing overhead applied Units completed Units in process at the end of May Units sold during May ਬੀਬੀ ਬੀ ਸੀ 7,600 2,400 4,400 110 In May, overhead was overapplied by...
Morrow Corporation had only one job in process during May-Job X322—and had no finished goods inventory on May 1. Job X32Z was started in April and finished during May. Data concerning that job appear below: Job X32Z S 5,700 $ Beginning balance Charged to the job during May Direct materials Direct labor Manufacturing overhead applied Units completed Units in process at the end of May Units sold during May 9,000 2.700 4,700 170 0 75 In May, overhead was overapplied...
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