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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

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
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 Prev 1 of 5 # Help Next > Save & Exit Subm
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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