Question
The following data relate to the manufacturing activities of the Lord Crompton Plc. during June 2008: It incurred factory costs during the month of June
The following data relate to the manufacturing activities of the Lord Crompton Plc. during June 2008:
It incurred factory costs during the month of June as follows:
It also experienced expirations of previous factory acquisitions and prepayments as follows:
Other information included the following:
a. Calculate the cost of raw materials and factory supplies used during June.
b. Calculate the cost of units completed during June and transferred to the finished goods storeroom.
c. Calculate the cost of goods sold during June.
d. Calculate the amount of net income for the month of June.
June 30, 2008 43,600 June 1, 2008 46,900 Raw Materials Inventory.. Factory Supplies Inventory. Work-in-Process Inventory 7,700 7,600 115,200 110,900 Finished Goods Inventory. 71,400 76,700
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