Cost of Goods Manufactured and Sold LeMans Company produces specialty papers at its Fox Run plant....

Transcribed Image Text:

Cost of Goods Manufactured and Sold 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 $62,800 Work-in-process inventory 31,700 Finished goods inventory 56,500 During June, direct labor cost was $145,500, direct materials purchases were $339,500, and the total overhead cost was $367,800. The inventories at the end of June were: Direct materials inventory $63,400 Work-in-process inventory 35,300 Finished goods inventory 51,900 Required: 1. Prepare a cost of goods manufactured statement for June. LeMans Company Statement of Cost of Goods Manufactured Direct materials: For the Month of June Beginning inventory Materials available Direct materials used in production Total manufacturing costs added Cost of goods manufactured 2. Prepare a cost of goods sold schedule for June. LeMans Company Statement of Cost of Goods Sold For the Month of June Cost of goods sold Cost of Goods Manufactured and Sold 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 $62,800 Work-in-process inventory 31,700 Finished goods inventory 56,500 During June, direct labor cost was $145,500, direct materials purchases were $339,500, and the total overhead cost was $367,800. The inventories at the end of June were: Direct materials inventory $63,400 Work-in-process inventory 35,300 Finished goods inventory 51,900 Required: 1. Prepare a cost of goods manufactured statement for June. LeMans Company Statement of Cost of Goods Manufactured Direct materials: For the Month of June Beginning inventory Materials available Direct materials used in production Total manufacturing costs added Cost of goods manufactured 2. Prepare a cost of goods sold schedule for June. LeMans Company Statement of Cost of Goods Sold For the Month of June Cost of goods sold