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 130% 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 $2,200 2,800 Job 5 $1,700 270 SHEN COMPANY Schedule of Cost of Goods Manufactured For Month Ended May 31 Add: Work in process inventory, beginning

FINANCIAL ACCOUNTING
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ISBN:9781259964947
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Chapter1: Financial Statements And Business Decisions
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Direct materials used
Direct labor used
Job 4
$ 2,200
2,800
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 130% 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.
Job 5
$ 1,700
270
SHEN COMPANY
Schedule of Cost of Goods Manufactured
For Month Ended May 31
Add: Work in process inventory, beginning
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Transcribed Image Text:Direct materials used Direct labor used Job 4 $ 2,200 2,800 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 130% 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. Job 5 $ 1,700 270 SHEN COMPANY Schedule of Cost of Goods Manufactured For Month Ended May 31 Add: Work in process inventory, beginning Prev 1 of 5 # Help Next > Save & Exit Subm
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