Cost data for Bedford Manufacturing Company for the month ending May 31, 2012, are as follows:

a. Prepare a cost of goods manufactured statement for May 2012.b. Determine the cost of goods sold for May 2012.

Transcribed Image Text:

Inventories Materials May 1 $168,000 May 31 $139,000 Work in process 240,000 260,000 Finished goods 182,000 214,200 Direct labor $475,000 Materials purchased during May 302,000 Factory overhead incurred during May: Indirect labor 57,200 Machinery depreciation 36,000 Heat, light, and power Supplies 13,000 10,000 Property taxes 9,800 Miscellaneous cost 18,200