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 |
|
|
|
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 |
Answer the following questions about XYZ Company for the month of June: a) What was the total manufacturing cost (product cost) incurred in June? $
b) What was the cost of direct materials used in production in June? $ c) What was the direct labour cost in June? $ d) What was the total manufacturing overhead costs in June? e) What was the fixed manufacturing overhead cost in June? $ f) What was the cost of goods manufactured in June? $ g) What was the cost of goods sold in June? $ h) What were the prime costs in June? $ i) What were the conversion costs in June? $ j) What were the period costs in June? $ k) If the sales revenue in June was $950, what was XYZ's operating income before taxes? $
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