Uxmaiz Corporation had only one job in process during May-Job X32Z-and had no finished goods inventory on May 1. Job X32Z was started in April and finished during May. Data concerning that job appear below:
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|
| Beginning balance |
$ |
7,500 |
| Charged to the job during May |
|
|
| Direct materials |
$ |
11,700 |
| Direct labor |
$ |
3,900 |
| Manufacturing overhead applied |
$ |
5,900 |
| Units completed |
|
290 |
| Units in process at the end of May |
|
0 |
| Units sold during May |
|
135 |
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In May, overhead was overapplied by $490. The company adjusts its cost of goods sold every month for the amount of the overhead that was underapplied or overapplied.
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| Required: |
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1. Using the indirect method, determine the cost of goods sold for May?
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2. What is the total value of the finished goods inventory at the end of May?
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3.
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What is the total value of the work in process inventory at the end of May? |
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