Sorrel Pharmaceuticals Corporation manufactures a variety of drugs that are marketed internationally.Inventories on May 31 and June 30 were as follows:

Purchases of materials for June were $142,600.Direct labor costs were incurred and computed on the basis of 27,000 hours at $8 per hour.Actual overhead costs incurred in June were as follows: operating supplies used,$5,700;janitorial and materials handling labor,$38,100;employee benefits,$110,800;heat,light,and power,$50,000;factory depreciation,$8,400;property taxes,$8,000;and expired portion of insurance premiums,$12,000.Net sales for June were $992,700.Selling and administrative expenses were $165,000.
Prepare a statement of cost of goods manufactured for the month ended June 30.

Question

Sorrel Pharmaceuticals Corporation manufactures a variety of drugs that are marketed internationally.Inventories on May 31 and June 30 were as follows:

Purchases of materials for June were $142,600.Direct labor costs were incurred and computed on the basis of 27,000 hours at $8 per hour.Actual overhead costs incurred in June were as follows: operating supplies used,$5,700;janitorial and materials handling labor,$38,100;employee benefits,$110,800;heat,light,and power,$50,000;factory depreciation,$8,400;property taxes,$8,000;and expired portion of insurance premiums,$12,000.Net sales for June were $992,700.Selling and administrative expenses were $165,000.
Prepare a statement of cost of goods manufactured for the month ended June 30.

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The Answer of Sorrel Pharmaceuticals Corporation manufactures a variety of drugs that are marketed internationally.Inventories on May 31 and June 30 were as follows:

Purchases of materials for June were $142,600.Direct labor costs were incurred and computed on the basis of 27,000 hours at $8 per hour.Actual overhead costs incurred in June were as follows: operating supplies used,$5,700;janitorial and materials handling labor,$38,100;employee benefits,$110,800;heat,light,and power,$50,000;factory depreciation,$8,400;property taxes,$8,000;and expired portion of insurance premiums,$12,000.Net sales for June were $992,700.Selling and administrative expenses were $165,000.
Prepare a statement of cost of goods manufactured for the month ended June 30.

Sorrel Pharmaceuticals Corporation Manufactures a Variety of Drugs That Are