Question
XYZ Company reports the following inventory data for the month of June. June 1 June 30 Direct materials $ 50.00 $ 80.00 Work in process
XYZ Company reports the following inventory data for the month of June.
| June 1 | June 30 |
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Direct materials | $ 50.00 | $ 80.00 |
Work in process | $140.00 | $180.00 |
Finished goods | $240.00 | $250.00 |
Direct materials purchased | $140.00 | Indirect costs of production | $180.00 |
Direct costs of production | $220.00 | Selling and administrative costs | $210.00 |
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Answer the following questions about XYZ Company for the month of June: a) What was the total manufacturing cost (product cost) in the month of June? $ Answer b) What was the cost of direct materials used in production in June? $ Answer c) What was the direct labour cost in June? $ Answer d) What was the non direct costs of production incurred in June? Answer e) What was the cost of goods manufactured at the end of June? $ Answer f) What was the cost of goods sold in June? $ Answer g) What were the prime costs in June? $ Answer h) What were the conversion costs in June? $ Answer i) What were the period costs in June? $ Answer j) If the sales revenue in June was $950, what was XYZ's operating income before taxes? $ Answer
Please answer all parts of the question.
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