During the month of June, the company incurred direct labor costs of $45,300 and made raw material inventory purchases of $58,000.

Additional factory costs incurred during the month totaled $24,100; of this amount, $2,400 was for indirect materials.

At the end of June, the company reported the following balances in its inventory accounts:

Raw Materials Inventory $32,500, Work in Process Inventory $22,100, Finished Goods Inventory $19,800 Given sales revenue of $204,000,

What is the company's gross profit for June?

Answer rating: 100% (QA)

To calculate the companys gross profit for June we need to determine the cost of goods sold COGS dur... View the full answer