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At May 31, 2022, the accounts of Crane Company show the following. 1. May 1 inventoriesfinished goods $12,700, work in process $14,800, and raw materials

At May 31, 2022, the accounts of Crane Company show the following.

1. May 1 inventoriesfinished goods $12,700, work in process $14,800, and raw materials $8,300.
2. May 31 inventoriesfinished goods $9,600, work in process $16,000, and raw materials $7,200.
3. Increases to work in process were direct materials $62,500, direct labor $50,100, and manufacturing overhead applied $40,100.
4. Sales revenue totaled $216,000.

(a) Prepare a condensed cost of goods manufactured schedule for May 2022.

CRANE COMPANY Cost of Goods Manufactured Schedule choose the accounting period May 31, 2022For the Year Ended May 31, 2022For the Month Ended May 31, 2022

select an opening name for the schedule Cost of Goods ManufacturedDirect LaborDirect Materials UsedManufacturing Overhead AppliedTotal Cost of Work in ProcessTotal Manufacturing CostsWork in Process, May 1Work in Process, May 31Raw Materials, May 1Raw Materials, May 31Finished Goods, May 1Finished Goods, May 31Sales RevenueCost of Goods SoldCost of Goods Available for SaleGross Profit

$enter a dollar amount

select an item Cost of Goods ManufacturedDirect LaborDirect Materials UsedManufacturing Overhead AppliedTotal Cost of Work in ProcessTotal Manufacturing CostsWork in Process, May 1Work in Process, May 31Raw Materials, May 1Raw Materials, May 31Finished Goods, May 1Finished Goods, May 31Gross ProfitCost of Goods Available for SaleCost of Goods SoldSales Revenue

$enter a dollar amount

select an item Cost of Goods ManufacturedDirect LaborDirect Materials UsedManufacturing Overhead AppliedTotal Cost of Work in ProcessTotal Manufacturing CostsWork in Process, May 1Work in Process, May 31Finished Goods, May 1Finished Goods, May 31Raw Materials, May 1Raw Materials, May 31Sales RevenueCost of Goods SoldCost of Goods Available for SaleGross Profit

enter a dollar amount

select an item Cost of Goods ManufacturedDirect LaborDirect Materials UsedManufacturing Overhead AppliedTotal Cost of Work in ProcessTotal Manufacturing CostsWork in Process, May 1Work in Process, May 31Raw Materials, May 1Raw Materials, May 31Finished Goods, May 1Finished Goods, May 31Gross ProfitCost of Goods Available for SaleCost of Goods SoldSales Revenue

enter a dollar amount

select a summarizing line for the first part Cost of Goods ManufacturedDirect LaborDirect Materials UsedManufacturing Overhead AppliedTotal Cost of Work in ProcessTotal Manufacturing CostsWork in Process, May 1Work in Process, May 31Finished Goods, May 1Finished Goods, May 31Raw Materials, May 1Raw Materials, May 31Sales RevenueCost of Goods SoldCost of Goods Available for SaleGross Profit

enter a total amount for the first part

select a summarizing line for the second part Cost of Goods ManufacturedDirect LaborDirect Materials UsedManufacturing Overhead AppliedTotal Cost of Work in ProcessTotal Manufacturing CostsWork in Process, May 1Work in Process, May 31Raw Materials, May 1Raw Materials, May 31Finished Goods, May 31Finished Goods, May 1Gross ProfitCost of Goods Available for SaleCost of Goods SoldSales Revenue

enter a total amount for all two parts

select between addition and deduction AddLess: select an item Cost of Goods ManufacturedDirect LaborDirect Materials UsedManufacturing Overhead AppliedTotal Cost of Work in ProcessTotal Manufacturing CostsWork in Process, May 1Work in Process, May 31Finished Goods, May 1Finished Goods, May 31Raw Materials, May 1Raw Materials, May 31Sales RevenueCost of Goods SoldCost of Goods Available for SaleGross Profit

enter a dollar amount

select a closing name for this schedule Cost of Goods ManufacturedDirect LaborDirect Materials UsedManufacturing Overhead AppliedTotal Cost of Work in ProcessTotal Manufacturing CostsWork in Process, May 1Work in Process, May 31Raw Materials, May 1Raw Materials, May 31Finished Goods, May 1Finished Goods, May 31Gross ProfitCost of Goods Available for SaleCost of Goods SoldSales Revenue

$enter a total amount for this schedule

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