Prepare a schedule of cost of goods sold for the month. (Input all amounts as positive values.) Parmitan Corporation has provided the following data concerning last month’s manufacturing operations. Solution Cost of goods manfactured for May month: Raw materials consumed $ 22,500 (11300+30000-18800) Direct labor $ 59,700 Applied manufacturing overheads $ 88,800 Add: Opening WIP $ 55,900 Less: Closing WIP $ 66,100 Cost of goods manufactured $ 160,800.

1. Prepare a schedule of cost of goods sold for the month. (Input all amounts as positive values.)
Parmitan Corporation has provided the following data concerning last month’s manufacturing
operations.
Solution
Cost of goods manfactured for May month: Raw materials consumed $ 22,500
(11300+30000-18800) Direct labor $ 59,700 Applied manufacturing overheads $ 88,800
Add: Opening WIP $ 55,900 Less: Closing WIP $ 66,100 Cost of goods manufactured $
160,800