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Slapshot Company makes ice hockey sticks. During the month of June, the company purchased $125,000 of materials. Also, during the month of June, Slapshot Company incurred a direct labor cost of $166,000 and a manufacturing overhead of $232,000. Inventory information is as follows: Materials June 1 June 30 $48,000 $45,000 Work in process 65,000 63,000 Required: 1. Calculate the cost of goods manufactured for the month of June. 2. Calculate the cost of one hockey stick assuming that 1,900 sticks were completed during June.

Slapshot Company makes ice hockey sticks. During the month of June, the company purchased $125,000 of materials. Also, during the month of June, Slapshot Company incurred a direct labor cost of $166,000 and a manufacturing overhead of $232,000. Inventory information is as follows: Materials June 1 June 30 $48,000 $45,000 Work in process 65,000 63,000 Required: 1. Calculate the cost of goods manufactured for the month of June. 2. Calculate the cost of one hockey stick assuming that 1,900 sticks were completed during June.

FINANCIAL ACCOUNTING
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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Slapshot Company makes ice hockey sticks. During the month of June, the company purchased $125,000 of materials. Also, during the month of June, Slapshot Company incurred a direct labor cost of $166,000 and a manufacturing overhead of $232,000. Inventory information is as follows: Materials June 1 June 30 $48,000 $45,000 Work in process 65,000 63,000 Required: 1. Calculate the cost of goods manufactured for the month of June. 2. Calculate the cost of one hockey stick assuming that 1,900 sticks were completed during June.
Transcribed Image Text:Slapshot Company makes ice hockey sticks. During the month of June, the company purchased $125,000 of materials. Also, during the month of June, Slapshot Company incurred a direct labor cost of $166,000 and a manufacturing overhead of $232,000. Inventory information is as follows: Materials June 1 June 30 $48,000 $45,000 Work in process 65,000 63,000 Required: 1. Calculate the cost of goods manufactured for the month of June. 2. Calculate the cost of one hockey stick assuming that 1,900 sticks were completed during June.
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