Use the following information for the month of May 2022 to determine the Cost of Goods Manufactured and Cost of Goods Sold for Kacey Manufacturing Company. Assume that over- or under-applied manufacturing overhead is closed to Cost of Goods Sold at the end of the period.

Direct materials inventory, May 1, 2022	$31,500
Direct materials inventory, May 31, 2022	?
Work-in-process inventory, May 1, 2022	6,000
Work-in-process inventory, May 31, 2022	48,000
Finished goods inventory, May 1, 2022	24,000
Finished goods inventory, May 31, 2022	16,500
Direct materials used	30,000
Direct labor used	45,000
Direct materials purchased	97,500
Indirect materials used (supplies)	9,000
Indirect labor used	37,500
Other manufacturing overhead	43,500
Administrative salaries	22,500
Sales salaries and commissions	15,000
Depreciation on sales and office equipment	21,000
Applied manufacturing overhead	97,500