Jenny Incorporated

Statement of Cost of Goods Manufactured and Sold

For the month ended May 31, 2018

Direct Materials Used

Inventory, May 1 P 28000
Purchase of Direct Materials 543000
Available for use 571000
Less : Inventory, May 31 23000 548000
Direct Labor 260000
Factory Overhead
Indirect Factory Labor 90000
Property Tax 60000
Insurance (60%) 12000
Depreciation
Manufacturing Plant 20000
Manufacturing Equipment 30000 50000 212000
Total Manufacturing Cost 1020000
Work in Process, May 1 150000
Total Cost of Goods Placed in Process 1170000
Less : Work in Process, May 31 130000
Cost of Goods Manufactured P 1040000

Finished Goods Inventory, May 1 P 247000

Cost of Goods Manufactured 1040000
Total Goods Available for Sale 1287000
Less : Finished Goods Inventory, May 13 175000
Cost of Goods Sold P 1112000