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XYZ Company reports the following inventory data for the month of June. June 1 June 30 Direct materials $ 80.00 $50.00 Work in process $140.00
XYZ Company reports the following inventory data for the month of June. June 1 June 30 Direct materials $ 80.00 $50.00 Work in process $140.00 $180.00 Finished goods $240.00 $250.00 Direct materials purchased Indirect costs of production $140.00 $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) in the month of 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 non direct costs of production incurred in June? e) What was the cost of goods manufactured at the end of June? $ What was the cost of goods sold in June? $ g) What were the prime costs in June? $ h)What were the conversion costs in June? $ i) What were the period costs in June? $ If the sales revenue in June was $950, what was XYZ's operating income before taxes? $
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