Statement of cost of goods manufactured for a manufacturing company Cost data for Bedford… 1 answer below »
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Statement of cost of goods manufactured for a manufacturing company Cost data for Bedford Manufacturing Company for the month ending May 31, 2012, are as follows:
Inventories
1-May
31-May
Materials
$168,000
$139,000
Work in process
240,000
260,000
Finished goods
182,000
214,200
Direct labor
$475,000
Materials purchased during May
302,000
Factory overhead incurred during May:
Indirect labor
57,200
Machinery depreciation
36,000
Heat, light, and power
13,000
Supplies
10,000
Property taxes
9,800
Miscellaneous cost
18,200
a. Prepare a cost of goods manufactured statement for May 2012.
b. Determine the cost of goods sold for May 2012.
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