Cost of Goods Sold, Cost of Goods Manufactured

Princeton 3 Company has the following information for May:

Cost of direct materials used in production $33,000

Direct labor 40,000 Factory overhead 32,000

Work in process inventory, May 1 26,000

Work in process inventory, May 31 30,130

Finished goods inventory, May 1 26,000

Finished goods inventory, May 31 20,000

Question Content Area a.

For May, using the data given, prepare a statement of Cost of Goods Manufactured.

Princeton 3 Company

Statement of Cost of Goods Manufactured

$- Select -

$- Select -

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Total manufacturing costs incurred during May fill in the blank

Total manufacturing costs $fill in the blank

10 - Select - Cost of goods manufactured $fill in the blank

13 Question Content Area

b. For May, using the data given, prepare a statement of Cost of Goods Sold.

Princeton 3 Company

Statement of Cost of Goods Sold $- Select -

- Select -

$- Select -

- Select -

Cost of goods sold $fill in the blank