COST OF GOODS MANUFACTURED Slapshot Company makes ice hockey sticks. During the month of June, the company purchased $180,000 of materials. Also, during the month of June, Slapshot Company incurred direct labor cost of $165,000 and manufacturing overhead of $215,000. Inventory information is as follows:

June 1 June 30 Materials $42,000 $51,000 Work in process 60,000 71,000 Required:

Calculate the cost of goods manufactured for the month of June. Calculate the cost of one hockey stick assuming that 18,000 sticks were completed during June.

Cornerstone Exercise