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CoursHeroTranscribedText: 114. The Simkins Company uses a job order costing system. The following activities took...

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CoursHeroTranscribedText: 114. The Simkins Company uses a job order costing system. The following activities took place during the month of May: a. Raw materials purchased, $40,000. 1). Raw materials (all direct) used in production, $35,000. c. Salaries and wages cost incurred: Direct labor cost, $60,000. Indirect labor cost, $30,000. Sales salaries $25,000. d. Factory utility costs incurred, $15,000. e. Depreciation on factory equipment, $50,000. f. Advertising expense incurred, $80,000. g. Manufacturing overhead is applied at the predetermined rate of 150% of direct labor cost. h. Cost of Goods Manufactured for the month, $180,000. i. Cost of Goods Sold for the month, $150,000

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