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:
In May, overhead was over applied by $300. The company adjusts its cost of goods sold every month for the amount of the overhead that was under applied or over applied.
- Using the direct method, what is the cost of goods sold for May?
- What is the total value of the finished goods inventory at the end of May?
- What is the total value of the work in process inventory at the end of May?