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Selected information from the Blake Corporation accounting records for June follows: these are t charts Materials Inventory BB (6/1) 93,000 465,000 420,000 Work-In-Process Inventory Labor

Selected information from the Blake Corporation accounting records for June follows:

these are t charts

Materials Inventory
BB (6/1) 93,000
465,000 420,000
Work-In-Process Inventory
Labor 570,000
EB(6/30) 580,000
Finished Goods Inventory
BB (6/1) 295,000
840,000 837,000
Cost of Goods Sold
28,000

Manufacturing Overhead Control

257,000
257,000
Applied Manufacturing Overhead
285,000
257,000
28,000

Additional information for June follows:

Labor wage rate was $30 per hour.

During the month, sales revenue was $1,037,000, and selling and administrative costs were $240,000.

This company has no indirect materials or supplies.

The company applies manufacturing overhead on the basis of direct labor-hours.

Required:

a. What was the cost of direct materials purchased in June?

b. What was the over- or underapplied manufacturing overhead for June?

c. What was the manufacturing overhead application rate in June?

d. What was the cost of products completed during June?

e. What was the balance of the Work-in-Process Inventory account at the beginning of June?

f. What was the operating profit (or loss) for June? (Negative amounts should be indicated by a minus sign.)

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