Shen Company reports the costs incurred below for the month ended May 31. The company has no beginning Work in Process Inventory. Overhead is applied using a predetermined overhead rate of 120% of direct materials costs. Job 4 was completed and Job 5 is still in process at month-end. Prepare a schedule of cost of goods manufactured for the month. Direct materials used Direct labor used Job 4 $3,400 4,000 SHEN COMPANY Schedule of Cost of Goods Manufactured For Month Ended May 31 Direct materials used Direct labor Factory overhead applied Total manufacturing costs Add: Work in process inventory, beginning Job 5 $ 2,900 390 ✓ S ✓ 333 6,300✔ 4,390 7,560 18,250 0 18,250 Total cost of work in process Less: Work in process inventory, ending Cost of goods manufactured 18,250 *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted. ✓ S 0x
Shen Company reports the costs incurred below for the month ended May 31. The company has no beginning Work in Process Inventory. Overhead is applied using a predetermined overhead rate of 120% of direct materials costs. Job 4 was completed and Job 5 is still in process at month-end. Prepare a schedule of cost of goods manufactured for the month. Direct materials used Direct labor used Job 4 $3,400 4,000 SHEN COMPANY Schedule of Cost of Goods Manufactured For Month Ended May 31 Direct materials used Direct labor Factory overhead applied Total manufacturing costs Add: Work in process inventory, beginning Job 5 $ 2,900 390 ✓ S ✓ 333 6,300✔ 4,390 7,560 18,250 0 18,250 Total cost of work in process Less: Work in process inventory, ending Cost of goods manufactured 18,250 *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted. ✓ S 0x
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter4: Accounting For Factory Overhead
Section: Chapter Questions
Problem 15E: The books of Petry Products Co. revealed that the following general journal entry had been made at...
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Question
![Shen Company reports the costs incurred below for the month ended May 31. The company has no beginning Work in Process
Inventory. Overhead is applied using a predetermined overhead rate of 120% of direct materials costs. Job 4 was completed and Job 5
is still in process at month-end. Prepare a schedule of cost of goods manufactured for the month.
Direct materials used
Direct labor used
Job 4
$3,400
4,000
Job 5
$ 2,900
390
SHEN COMPANY
Schedule of Cost of Goods Manufactured
For Month Ended May 31
Direct materials used
Direct labor
Factory overhead applied
Total manufacturing costs
Add: Work in process inventory, beginning
Total cost of work in process
Less: Work in process inventory, ending
Cost of goods manufactured
18,250
*Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no
points deducted.
✓ S
✓
333
6,300✔
4,390
7,560
18,250
0
18,250
✓ S
0x](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5ec41dc3-c804-411f-a375-32d44e8de73b%2F13298583-df13-402b-aad9-939ef8da6c73%2F29zm27f_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Shen Company reports the costs incurred below for the month ended May 31. The company has no beginning Work in Process
Inventory. Overhead is applied using a predetermined overhead rate of 120% of direct materials costs. Job 4 was completed and Job 5
is still in process at month-end. Prepare a schedule of cost of goods manufactured for the month.
Direct materials used
Direct labor used
Job 4
$3,400
4,000
Job 5
$ 2,900
390
SHEN COMPANY
Schedule of Cost of Goods Manufactured
For Month Ended May 31
Direct materials used
Direct labor
Factory overhead applied
Total manufacturing costs
Add: Work in process inventory, beginning
Total cost of work in process
Less: Work in process inventory, ending
Cost of goods manufactured
18,250
*Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no
points deducted.
✓ S
✓
333
6,300✔
4,390
7,560
18,250
0
18,250
✓ S
0x
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