Cost of Goods Manufactured and Sold LeMans Company produces specialty papers at its Fox Run plant. At the beginning of June, the following information was supplied by its accountant: Direct materials inventory $56,800 Work-in-process inventory 30,500 57,000 Finished goods inventory During June, direct labor cost was $143,000, direct materials purchases were $332,500, and the total overhead cost was $366,200. The inventories at the end of June were: Direct materials inventory Work-in-process inventory. Finished goods inventory $57,400 34,100 52,400 Required: 1. Prepare a cost of goods manufactured statement for June. LeMans Company Statement of Cost of Goods Manufactured Direct materials: For the Month of June Beginning inventory Add: Purchases Materials available Less: Ending inventory Direct materials used in production Direct labor Manufacturing overhead Total manufacturing costs added Add: Beginning work in process Less: Ending work in process Cost of goods manufactured LA LA 0000 2. Prepare a cost of goods sold schedule for June. LeMans Company Statement of Cost of Goods Sold For the Month of June Cost of goods manufactured Add: Beginning finished goods inventory Cost of goods available for sale Less: Ending finished goods inventory Cost of goods sold LA LA LA