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Cost of Goods Manufactured, Cost of Goods Sold Hayward Company, a manufacturing firm, has supplied the following information from its accounting records for the month of May Direct labor cost Purchases of raw materials Supplies used Factory insurance Commissions paid Factory supervision Advertising Material handing Materials inventory, May 1 Work-in-process inventory, May 1 Finished goods inventory, May 1 Materials inventory, May 31 Work-in-process inventory, May 31 Finished goods inventory, May 31 Manufacturing overhead: Required: 1. Prepare a statement of cost of goods manufactured. If an amount is negative, enter a minus (-) sign first. Hayward Company Statement of Cost of Goods Manufactured For the Month of May Total manufacturing cost for May $10,500 15,000 675 350 Cost of goods manufactured 2,500 2,225 800 3,750 3,475 12,500 6,685 9,500 14,250 4,250

Cost of Goods Manufactured, Cost of Goods Sold Hayward Company, a manufacturing firm, has supplied the following information from its accounting records for the month of May Direct labor cost Purchases of raw materials Supplies used Factory insurance Commissions paid Factory supervision Advertising Material handing Materials inventory, May 1 Work-in-process inventory, May 1 Finished goods inventory, May 1 Materials inventory, May 31 Work-in-process inventory, May 31 Finished goods inventory, May 31 Manufacturing overhead: Required: 1. Prepare a statement of cost of goods manufactured. If an amount is negative, enter a minus (-) sign first. Hayward Company Statement of Cost of Goods Manufactured For the Month of May Total manufacturing cost for May $10,500 15,000 675 350 Cost of goods manufactured 2,500 2,225 800 3,750 3,475 12,500 6,685 9,500 14,250 4,250

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Cost of Goods Manufactured, Cost of Goods Sold Hayward Company, a manufacturing firm, has supplied the following information from its accounting records for the month of May Direct labor cost $10,500 Purchases of raw materials 15,000 Supplies used 675 350 Factory insurance Commissions paid Factory supervision Advertising Material handing Materials inventory, May 1 Work-in-process inventory, May 1 Finished goods inventory, May 1 Materials inventory, May 31 Work-in-process inventory, May 31 Finished goods inventory, May 31 Required: 1. Prepare a statement of cost of goods manufactured. If an amount is negative, enter a minus (-) sign first. Hayward Company Statement of Cost of Goods Manufactured For the Month of May Manufacturing overhead: Total manufacturing cost for May 2,500 2,225 800 3,750 3,475 12,500 6,685 9,500 14,250 4,250 Cost of goods manufactured
Transcribed Image Text:Cost of Goods Manufactured, Cost of Goods Sold Hayward Company, a manufacturing firm, has supplied the following information from its accounting records for the month of May Direct labor cost $10,500 Purchases of raw materials 15,000 Supplies used 675 350 Factory insurance Commissions paid Factory supervision Advertising Material handing Materials inventory, May 1 Work-in-process inventory, May 1 Finished goods inventory, May 1 Materials inventory, May 31 Work-in-process inventory, May 31 Finished goods inventory, May 31 Required: 1. Prepare a statement of cost of goods manufactured. If an amount is negative, enter a minus (-) sign first. Hayward Company Statement of Cost of Goods Manufactured For the Month of May Manufacturing overhead: Total manufacturing cost for May 2,500 2,225 800 3,750 3,475 12,500 6,685 9,500 14,250 4,250 Cost of goods manufactured
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