Hayward Company, a manufacturing firm, has supplied the following information from its accounting records for the month of May:

Direct labor cost	$10,500
Purchases of raw materials	15,000
Supplies used	675
Factory insurance	350
Commissions paid	2,500
Factory supervision	2,225
Advertising	800
Material handing	3,750
Materials inventory, May 1	3,475
Work-in-process inventory, May 1	12,500
Finished goods inventory, May 1	6,685
Materials inventory, May 31	9,500
Work-in-process inventory, May 31	14,250
Finished goods inventory, May 31	4,250
	Required:
1.	Prepare a statement of cost of goods manufactured.
2.	Prepare a statement of cost of goods sold.

Refer to the list below for the exact wording of a label or an amount description within your statements.

Labels
Manufacturing overhead
Selling expenses
Amount Descriptions
Cost of goods manufactured
Cost of goods sold
Direct labor
Direct materials used
Factory insurance
Factory supervision