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 $59,300 Work-in-process inventory 34,200 Finished goods inventory 58,000 During June, direct labor cost was $147,500, direct materials purchases were $347,000, and the total overhead cost was $374,600. The inventories at the end of June were Direct materials inventory $59,900 Work-in-process inventory 37,800 Finished goods inventory 53,400 Required: 1. Prepare a cost of goods manufactured statement for June.

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 $59,300 Work-in-process inventory 34,200 Finished goods inventory 58,000 During June, direct labor cost was $147,500, direct materials purchases were $347,000, and the total overhead cost was $374,600. The inventories at the end of June were Direct materials inventory $59,900 Work-in-process inventory 37,800 Finished goods inventory 53,400 Required: 1. Prepare a cost of goods manufactured statement for June.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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