LeMans Company produces specialty papers at its Fox Run plant. At the beginning of June, the...
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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 Work-in-process inventory Finished goods inventory During June, direct labor cost was $138,000, direct materials purchases were $343,500, and the total overhead cost was $363,400. The inventories at the end of June were: Direct materials inventory $61,800 Work-in-process inventory 41,300 Finished goods inventory 48,500 $61,200 37,700 53,100 Required: 1. Prepare a cost of goods manufactured statement for June. LeMans Company Statement of Cost of Goods Manufactured For the Month of June Direct materials: Beginning inventory Add: Purchases Materials available Less: Ending inventory Direct materials used in production Direct labor Manufacturing overhead Total manufacturing costs added Add: Beginning work in process Less: Ending work in process Cost of goods manufactured SA 1000000 Alpha-numeric input field LeMans Company Statement of Cost of Goods Sold For the Month of June Beginning finished goods inventory Add: Cost of goods manufactured Cost of goods available for sale Less: Ending finished goods inventory Cost of goods sold X X pogog 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 Work-in-process inventory Finished goods inventory During June, direct labor cost was $138,000, direct materials purchases were $343,500, and the total overhead cost was $363,400. The inventories at the end of June were: Direct materials inventory $61,800 Work-in-process inventory 41,300 Finished goods inventory 48,500 $61,200 37,700 53,100 Required: 1. Prepare a cost of goods manufactured statement for June. LeMans Company Statement of Cost of Goods Manufactured For the Month of June Direct materials: Beginning inventory Add: Purchases Materials available Less: Ending inventory Direct materials used in production Direct labor Manufacturing overhead Total manufacturing costs added Add: Beginning work in process Less: Ending work in process Cost of goods manufactured SA 1000000 Alpha-numeric input field LeMans Company Statement of Cost of Goods Sold For the Month of June Beginning finished goods inventory Add: Cost of goods manufactured Cost of goods available for sale Less: Ending finished goods inventory Cost of goods sold X X pogog
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To prepare a cost of goods manufactured statement for June we need to calculate the direct materials ... View the full answer
Related Book For
Cornerstones of Cost Management
ISBN: 978-1285751788
3rd edition
Authors: Don R. Hansen, Maryanne M. Mowen
Posted Date:
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