Cost of Goods Sold, Cost of Goods Manufactured Princeton 3 Company has the following information for May: Cost of direct materials used in production Direct labor Factory overhead Work in process inventory, May 1 Work in process inventory, May 31 Finished goods inventory, May 1 Finished goods inventory, May 31 $33,000 38,000 a. For May, using the data given, prepare a statement of Cost of Goods Manufactured. Princeton 3 Company Statement of Cost of Goods Manufactured Cost of goods manufactured 27,000 25,000 25,830 22,000 14,000 Total manufacturing costs incurred during May Total manufacturing costs Cost of goods sold b. For May, using the data given, prepare a statement of Cost of Goods Sold. Princeton 3 Company Statement of Cost of Goods Sold

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Cost of Goods Sold, Cost of Goods Manufactured
Princeton 3 Company has the following information for May:
Cost of direct materials used in production
Direct labor
Factory overhead
Work in process inventory, May 1
Work in process inventory, May 31
Finished goods inventory, May 1
Finished goods inventory, May 31
$33,000
38,000
a. For May, using the data given, prepare a statement of Cost of Goods Manufactured.
Princeton 3 Company
Statement of Cost of Goods Manufactured
Total manufacturing costs incurred during May
Total manufacturing costs
Cost of goods manufactured
27,000
25,000
25,830
22,000
14,000
Cost of goods sold $
b. For May, using the data given, prepare a statement of Cost of Goods Sold.
Princeton 3 Company
Statement of Cost of
Goods Sold
Transcribed Image Text:Cost of Goods Sold, Cost of Goods Manufactured Princeton 3 Company has the following information for May: Cost of direct materials used in production Direct labor Factory overhead Work in process inventory, May 1 Work in process inventory, May 31 Finished goods inventory, May 1 Finished goods inventory, May 31 $33,000 38,000 a. For May, using the data given, prepare a statement of Cost of Goods Manufactured. Princeton 3 Company Statement of Cost of Goods Manufactured Total manufacturing costs incurred during May Total manufacturing costs Cost of goods manufactured 27,000 25,000 25,830 22,000 14,000 Cost of goods sold $ b. For May, using the data given, prepare a statement of Cost of Goods Sold. Princeton 3 Company Statement of Cost of Goods Sold
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