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In June, Olympic Company purchased materials costing $38,000, and incurred direct labor cost of $42,000. Overhead totaled $27,000 for the month. Information on inventories was
In June, Olympic Company purchased materials costing $38,000, and incurred direct labor cost of $42,000. Overhead totaled $27,000 for the month. Information on inventories was as follows:
June 1June 30Materials$3,000$2,700Work in process1,0001,275Finished goods2,5001,775
Required:
A.Calculate the cost of direct materials used during June.
$
B.Calculate the total manufacturing cost for June.
$
C.Calculate the cost of goods manufactured for June.
$
D.Calculate the cost of goods sold for June.
$
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