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.

Hayward Company

Statement of Cost of Goods Manufactured

For the Month of May

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Hayward Company

Statement of Cost of Goods Sold

For the Month of May

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