Sterling Company manufactures laundry detergent. At the beginning of February, the following information was supplied by its accountant:
Raw materials inventory $73,000 Work-in-process inventory 80,400 Finished goods inventory 62,000
During February, direct labor cost was $210,400, raw materials' purchases were $301,800, and the total overhead cost was $478,590. The inventories at the end of February were
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Raw materials inventory
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$ 56,000
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Work-in-process inventory
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103,000
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Finished goods inventory
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95,240
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Required
1. Prepare a statement of cost of goods manufactured for February.
2. Prepare a statement of cost of goods sold for February.