Use the following information to answer questions 7-11 The following information applies to the questions displayed below. The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 Inventories Raw materials Work in process Finlshed goods $39,000 $30,000 9,100 20,500 69,000 34,500 Activities and information for May Raw materials purchases (paid with cash) Factory payroll (paid with cash) Factory overhead 186,000 300,000 Indirect materials Indirect labor Other overhead costs 7,000 71,000 111,000 1,100,000 Sales (received in cash) Predetermined overhead rate based on direct labor cost 55% Solution Answer - Exercise 15-7 T-accounts Factory Overheads Cost of material used Raw Materials Raw Material 7000 125950 Work in process Raw Materials April-30 $39,000 RM-April 30 39000 7000 Factory Overhead Factory Payroll 71000 63050 Cost of goods sold Add:Raw Material Purchases $186,000 RM Purchases 186000 188000 Work in process Other Overheads 111000 Less : Raw Materials May-31 $30,000 Cost of material used $195,000 less : Indirect Material used $7,000 RM May 31 30000 Direct Material Used $188,000 Work in process Cost of direct labour used = $3,00,000 WIP- April 30 9100 531550 Finished Goods Raw Material 188000 Cost of goods Manufactured Factory Payroll 229000 Cost of Materials used $188,000 Factory Overhead 125950 Cost of direct labour used $229,000 WIP-May 31 20500 Factory Overhead applied [55% of $2,29,000] $125,950 Cost of Manufacturing for the period $542,950 Factory Payroll Add: Work in process , April-30 $9,100 Cash 300000 71000 Factory Overheads Less : Work in process,May-31 $20,500 229000 Work in process Cost of goods Manufactured $531,550 Cost of goods sold Cost of goods Manufactured $531,550 Add : Finished Goods , April-30 $69,000 Finished Goods Less : Finished Goods,May-31 $34,500 FG-April 30 69000 Cost of goods sold $566,050 Work in process 531550 566050 Cost of goods sold Gross Profit Sales $1,100,000 FG May 31 34500 Less : Cost of goods sold (unadjusted) $566,050 Gross Profit $533,950 Overapplied or underapplied overheads = Actual overheads - applied overheads Actual Overheads = Indirect Material + Indirect Labour + other overhead costs = $7000 + $71000 + $111000 = $1,89,000 Underapplied overheads = $189000 -$125950 = $63,050 Journal Entry to allocate underapplied overheads Account Titles Debit Credit Cost of goods sold $63,050 Factory Overheads $63,050 Income Statement (Partial) Sales $1,100,000 Cost of goods sold $566,050 Gross Profit $533,950.

1. What are the common conditions resulting in thrombocytosis? Explain why thrombocytosis
occurs in these conditions.
Solution
The normal platelet count is 150,000-450,000 platelets per microlitre of blood. Elevated levels of
platelet increasing the platelet count much above the normal range leads to a condition called
Thrombocytosis. The various conditions that lead to increase in platelet count are-