The Avocado Company had the following information available on May 31, 19X8: raw materials put into process (all direct materials), $47,000; direct labor paid at a rate of $4.35 an hour in Department S, $3.75 in Department T, and $5.00 in Department P. Department S worked 9,725 hours, Department T worked 11,000 hours, and Department P worked 15,475 hours. Factory overhead was $60,000 for all three departments combined. bgt9

Required:
a Prepare a statement of cost of goods manufactured.
b What is the amount of the cost of goods sold?

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Raw materials Work-in-process Finished goods INVENTORIES May 1 May 31 $14,000 $12,750 16,250 18,500 22,000 20,000