Cost of Goods Manufactured and sold Lars company products specialty papers at its fox Hun plant. At the beginning of one, the following information was supplied by its accountant Direct materials inventory $61,800 work-in-process inventory 36,300 Finished goods inventory 51.400 During June, direct labor cost was $142,000, direct materials purchases were $345.000, and the total overhead cost was $366,600. The inventores the end of tune were: Direct materials wventory 562.400 39,900 Work in process inventory Finished goods inventory Required: 46,500 1. Prepare a cost of goods manufactured statement for June LeMans Company Statement of Cost of Goods Manufactured For the Month of June Direct materials: Beginning inventory 62.400 x Add: Purchases 346,000 X 408.400 X Materials available Less: Ending Inventory 63.000 X 345.400 x Direct materials used in production Direct labor 143.000 X Manufacturing that 345.400 X Direct materials used in production Direct labor Manufacturing overhead 143 000 X 375,800 X 864,200 X Total manufacturing costs added Add: Beginning inventory x 33,900 X Less: Ending work in process 37,500 X 860,600 X Cost of goods manufactured Feedback Check My Work 1. See Example 2.2 2. Prepare a cost of goods sold schedule for June. LeMans Company Statement of Cost of Goods Sold For the Month of June Beginning finished goods inventory x Add: Cost of goods available for sale x Cost of goods manufactured X 55,600 X 860,600 X 916,200 X Less: Ending finished goods inventory 50,800 X 865,400 x Cost of goods sold