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Part A LOLA's production supervisor is tasked with computing the manufacturing costs for June 2021 for one of the company's top selling products. The following
Part A LOLA's production supervisor is tasked with computing the manufacturing costs for June 2021 for one of the company's top selling products. The following details are provided Raw materials inventory, June 1 $ 30,000 Raw materials purchases $1,500,000 Raw materials inventory, June 30 60,000 Direct labor 690,000 Depreciation-factory equipment 200,000 Work in process, June 1 27,000 Depreciation-administrative equipment 100,000 Work in process, June 30 18,000 Factory supplies used 75,000 Factory utilities 125,000 Finished goods, June 1 60,000 Sales commissions 275,000 Finished goods, June 30 48,000 Indirect labor 200,000 Indirect materials 150,000 Factory utilities 50,000 Required: a. From the information provided, compute: i. Direct Materials Used ii. Manufacturing Overhead cost b. Prepare a cost of Goods Manufactured Schedule for June 2021. c. Compute the cost of Goods Sold for June 2021
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