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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
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
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