Question
QUESTION 3: Slapshot Company makes ice hockey sticks. During the month of June, the company purchased $124,000 of materials. Also during the month of June,
QUESTION 3:
Slapshot Company makes ice hockey sticks. During the month of June, the company purchased $124,000 of materials. Also during the month of June, Slapshot Company incurred direct labour cost of $168,000 and manufacturing overhead of $229,000. Inventory information is as follows:
June 1 | June 30 | |
Materials | $42,000 | $51,000 |
Work in process | 60,000 | 71,000 |
Required:
1. Calculate the cost of goods manufactured for the month of June. $________________
2. Calculate the cost of one hockey stick assuming that 18,000 sticks were completed during June. Round your answer to the nearest cent. $_______________
QUESTION 4:
Slapshot Company makes ice hockey sticks. During the month of June, 18,000 sticks were completed at a cost of goods manufactured of $493,000. Suppose that on June 1, Slapshot had 4,500 units in finished goods inventory costing $160,000 and on June 30, 7,000 units in finished goods inventory costing $215,000.
Required:
1. Prepare a cost of goods sold statement for the month of June.
Slapshot Company Cost of Goods Sold Statement For the Month of JuneCost of oods manufactured Cost of ods sold Finished oods inventory, June 1 Finished bods invento V June 30Slapshot Company Income Statement For the Month of June Less: Selling expense:Slapshot Company Income Statement For the Month of June Percent Less: Selling expenseStep by Step Solution
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