using a predetermined overhead rate of 110% 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 4 Job 5 Direct materials used $3,000 $2,500 Direct labor used 3,600 350 cost of goods manufactured for the month ended may 31

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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 110% 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 4
Job 5
Direct materials used $3,000
$2,500
Direct labor used 3,600 350
cost of goods manufactured for the month ended may 31
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 110% 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 4 Job 5 Direct materials used $3,000 $2,500 Direct labor used 3,600 350 cost of goods manufactured for the month ended may 31
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