Danica Corp. provided the following inventory balances and cost data for the month of June. June 1 June 30 Direct Materials 30 000 40 000 Work in Process 15 000 20 000 Finished Goods 65 000 50 000 Production data for the month of June follows: Cost of goods manufactured 515 000 Factory overhead applied 150 000 Direct materials used 190 900 Actual factory overhead 144 000
Danica Corp. provided the following inventory balances and cost data for the month of June. June 1 June 30 Direct Materials 30 000 40 000 Work in Process 15 000 20 000 Finished Goods 65 000 50 000 Production data for the month of June follows: Cost of goods manufactured 515 000 Factory overhead applied 150 000 Direct materials used 190 900 Actual factory overhead 144 000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Danica Corp. provided the following inventory balances and cost data for the month of June.
| June 1 | June 30 | |
| Direct Materials | 30 000 | 40 000 |
| Work in Process | 15 000 | 20 000 |
| Finished Goods | 65 000 | 50 000 |
Production data for the month of June follows:
| Cost of goods manufactured | 515 000 |
| Factory |
150 000 |
| Direct materials used | 190 900 |
| Actual factory overhead | 144 000 |
Required: Compute the cost of goods manufactured under normal costing.
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