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

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

b. Determine the cost of goods sold for May 2014.

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Inventories Materials Work in process Finished goods May 1 $210,000 142,800 109,200 Direct labor Materials purchased during May Factory overhead incurred during May: Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs May 31 $184,800 159,600 126,000 $378,000 403,200 40,320 24,000 8,400 6,720 5,880 10,920 Inventories Materials Work in process Finished goods May 1 $210,000 142,800 109,200 Direct labor Materials purchased during May Factory overhead incurred during May: Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs May 31 $184,800 159,600 126,000 $378,000 403,200 40,320 24,000 8,400 6,720 5,880 10,920

Answer rating: 100% (QA)

Beginning raw material 210000 Add purchase 403200 Less raw material 184800 Raw mater... View the full answer