Question

C&C Sports has determined the following unit costs for each of its products:


On May 31, C&C Sports’ Work in Process Inventory consisted of the following items:



During June, a total of $191,591 in direct materials and $74,208 in direct labor costs were incurred. Units finished and sold during June were as follows:



Required
a. Given that C&C Sports uses direct labor dollars as its application base, what is the company’s predetermined overhead rate?
b. Calculate the total manufacturing cost for June.
c. Calculate the Cost of Goods Manufactured for June.
d. Calculate the Ending Work in Process Inventory balance on June 30.
e. Calculate Cost of Goods Sold for June.
f. Calculate Gross Profit for June.
g. For each of the three products, state whether there are more, fewer, or the same number of finished units in Finished Goods Inventory on June 30 than there were on June1.


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  • CreatedFebruary 21, 2014
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