Thompson Company, a Manufacturing Firm, Has Supplied the Following Information

Essay

Thompson Company, a manufacturing firm, has supplied the following information from its accounting records for the month of November:
Factory supplies used $18,000
Depreciation on factory building 17,000
Salary of company controller 6,000
Factory janitorial costs 5,000
Marketing and promotion 4,500
Direct labour cost 22,000
Purchases of raw materials 10,000
Finished goods inventory, Nov. 1 2,250
Finished goods inventory, Nov. 30 3,750
Work-in-process inventory, Nov. 1 4,200
Work-in-process inventory, Nov. 30 2,750
Materials inventory, Nov. 1 3,500
Materials inventory, Nov. 30 5,100
Required:
A. Prepare a statement of cost of goods manufactured.
B. Prepare a statement of cost of goods sold.