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	$139,250		$121,150
Work in process	97,480		84,810
Finished goods	71,020		81,170

Direct labor		$250,650
Materials purchased during May		267,360
Factory overhead incurred during May:
	Indirect labor	26,740
	Machinery depreciation	16,150
	Heat, light, and power	5,570
	Supplies	4,460
	Property taxes	3,900
	Miscellaneous costs	8,010

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

F. Milis Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended May 31, 2014 Work in process inventory. May Direct materials: Materials Inventory, May 1, 201 Purchases 4. Cost of materials available for Less materials inventory, May 3 Cost of direct materials used in Direct labor Factory overhead: (Indirect labor Machinery depreciation (Heat, light, and power Supplies 4. Property taxes Miscellaneous costs 4. 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.