Statement of Cost of Goods Manufactured for a Manufacturing Company

Cost data for F. Mills Manufacturing Company for the month ended May 31, 2014, are as follows:

Inventories	May 1		May 31
Materials	$154,000		$135,520
Work in process	103,180		90,800
Finished goods	80,080		90,800

Direct labor		$277,200
Materials purchased during May		295,680
Factory overhead incurred during May:
	Indirect labor	29,570
	Machinery depreciation	17,860
	Heat, light, and power	6,160
	Supplies	4,930
	Property taxes	4,310
	Miscellaneous costs	8,010

a. Prepare a cost of goods manufactured statement for May 2014.

Mills Manufacturing Company Statement of Cost ofGoods Manufactured For the Month Ended May 31.2014 Viork in process inventory, May Direct materials: Materials inventory, May 20 Purchases Cost of materials available fo Less materials inventory, May 3 Cost of direct materials used in Direct labor Factory overhead: Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs Total factory overhead Total manufacturing costs incurred during May Total manufacturing costs Less work in process inventory Cost of goods manufactured Show All Feedback b. Determine the cost of goods sold for May 2014