Maurice Tutor

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About Maurice Tutor

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Expertise:
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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 3 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 01 Aug 2017 My Price 7.00

Lock-Down Company,

The following information is available for Lock-Down Company, which produces special-order security products and uses a job order cost accounting system.

April 30 May 31
Inventories
Raw materials $ 37,000 $ 50,000
Goods in process 9,500 18,600
Finished goods 56,000 33,500
Activities and information for May
Raw materials purchases (paid with cash) 181,000
Factory payroll (paid with cash) 500,000
Factory overhead
Indirect materials 18,000
Indirect labor 82,000
Other overhead costs 94,000
Sales (received in cash) 1,600,000
Predetermined overhead rate based on direct labor cost 55 %

Compute the following amounts for the month of May. (Input all amounts as positive values. Omit the "$" sign in your response.)


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. ?????????? $

*Do not consider any underapplied or overapplied overhead

Answers

Maurice Tutor
(5)
Status NEW Posted 01 Aug 2017 11:08 PM My Price 7.00

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