Cost data for T. Clark Manufacturing Company for month ending 30th April, 2008, are as given:
Inventories April 1 April 30
Materials $125,000 $110,000
Finished goods 65,000 75,000
Work in progress 85,000 95,000
Materials purchased during April 240,000
Direct labor $ 225,000
Factory overhead incurred during April:
Indirect labor 24,000
Heat, light, and power 5,000
Machinery depreciation 14,000
Supplies 4,000
Property taxes 3,500
Miscellaneous 6,500
1. Arrange a cost of goods manufactured statement for April 2008.
2. Evaluate the cost of goods sold for April 2008.