Flow of manufacturing costs through the accounts. The following data related to the manufacturing activities of the Cornell Company during June:

It incurred factory costs during the month as follows:

a. Calculate the cost of raw materials and factory supplies used during June.

b. Calculate the cost of units completed during June and transferred to the finished goods storeroom.

c. Calculate the cost of goods sold during June.

d. Calculate the amount of net income for the month of June.

Transcribed Image Text:

Raw Materials Inventory Factory Supplies Inventory Work-in-Process Inventory Finished Goods Inventory June 1 $ 46,900 7,600 110,900 76,700 June 30 $ 43,600 7,700 115,200 71,400