LeMans Company produces specialty papers at its Fox Run plant
LeMans Company produces specialty papers at its Fox Run plant. At the beginning of June, the following information was supplied by its accountant:
Direct materials inventory ..... $62,400
Work-in-process inventory ..... 33,900
Finished goods inventory ..... 55,600
During June, direct labor cost was $143,000, direct materials purchases were $346,000, and the total overhead cost was $375,800. The inventories at the end of June were:
Direct materials inventory ..... $63,000
Work-in-process inventory ..... 37,500
Finished goods inventory ..... 50,800
Required:
1. Prepare a cost of goods manufactured statement for June.
2. Prepare a cost of goods sold schedule for June.
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