III Q TT $434,000. Calculate the cost of overhead for August and the cost of ending WIP. Answer Exercise 2-16. Cost of Goods Manufactured and Sold OBJECTIVE 5 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 $62,400 Work-in-process inventory 33,900 Finished goods inventory 55,600 During June, direct labor cost was $143,000, direct materials purchases were $346,000, and the total overhead cost was $375,800. The inventories at the end of June were: Direct materials inventory $63,000 Work-in-process inventory 37,500 Finished goods inventory 50,800 Required: 1. Prepare a cost of goods manufactured statement for June. Answer 2. Prepare a cost of goods sold schedule for June