Question 62 ABC Corporation has the following information for the month of June: $ 92,000 Purchases 5,000 Materials inventory, June 1 Materials inventory, June 30 8,000 Direct labor 25,000 Factory overhead 37,000 Work in process inventory, June 1 20,000 Work in process inventory, June 30 21,500 Finished goods inventory, June 1 25,000 Finished goods inventory, June 30 30,000 Sales 260,000 Sales and administrative expenses 99,000 Prepare a statement of cost of goods manufactured, ABC C ABC Corporation Statement of Cost of Goods Manufactured For the Month Ended June 30 Beginning work in process inventory, June 1 Direct materials: Purchases Cost of Material for use Cost of materials for use Beginning work in process inventory, June 1 Direct materials: Purchases Cost of Material for use Cost of materials for use Ending materials inventory Cost of direct materials used Direct labor Factory overhead Total manufacturing costs incurred Total manufacturing costs Ending work in process inventory Cost of goods manufactured