2)

Cost of Goods Sold, Cost of Goods Manufactured Glenville Company has the following information for April: Cost of direct materials used in production $ 41,000 Direct labor 56,000 Factory overhead 29,000 Work in process inventory, April 1 25,000 Work in process inventory, April 30 35,000 Finished goods inventory, April 1 31,000 Finished goods inventory, April 30 22,000 a. For April, determine the cost of goods manufactured. Using the data given, prepare a statement of Cost of Goods Manufactured. Glenville Company Statement of Cost of Goods Manufactured Work in process inventory, April 1 Total manufacturing costs incurred in April Total manufacturing costs Cost of goods manufactured b. For April, determine the cost of goods sold. Using the data given, prepare a statement of Cost of Goods Sold. Glenville Company Statement of Cost of Goods Sold Cost of goods sold Issuance of Materials On May 7, Keenan Company purchased on account 490 units of raw materials at $24 per unit. During May, raw materials were requisitioned for production as follows: 181 units for Job 200 at $20 per unit and 172 units for Job 305 at $24 per unit. Journalize the entry on May 7 to record the purchase. May 7 Journalize the entry on May 31 to record the requisition from the materials storeroom. May 31