Question
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
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 | $62,800 |
Work-in-process inventory | 29,600 |
Finished goods inventory | 58,700 |
During June, direct labor cost was $138,000, direct materials purchases were $342,000, and the total overhead cost was $379,800. The inventories at the end of June were:
Direct materials inventory | $63,400 |
Work-in-process inventory | 33,200 |
Finished goods inventory | 54,100 |
Required:
1. Prepare a cost of goods manufactured statement for June.
Direct materials: | ||
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 $
|
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