Question
A.During June, lets suppose that the cost of your beginning inventory was $10,000 and ending inventory equalled $5,000, and you purchased materials to produce 500
A.During June, lets suppose that the cost of your beginning inventory was $10,000 and ending inventory equalled $5,000, and you purchased materials to produce 500 units of your product. Calculate the cost of direct materials purchased and used in production in June.
Note that, you can adjust the units sold to 1,000 depending on a prospect about your product)
B. During June, the cost of your beginning work in process was $5,000, and ending was $10,000. Calculate the cost of goods manufactured using a cost of goods manufactured statement/schedule (for 500 units of your product) in June.
c. During June, the cost of your beginning finished goods was $20,000 and ending finished goods equalled $10,000. Prepare a cost of goods sold statement for the month of June for 500 units produced and sold to customers.
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