Question

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 ..... $62,400
Work-in-process inventory ..... 33,900
Finished goods inventory ..... 55,600
During June, direct labor cost was $143,000,
direct materials purchases were $346,000, and the total overhead cost was $375,800.
The inventories at the end of June were:
Direct materials inventory ..... $63,000
Work-in-process inventory ..... 37,500
Finished goods inventory ..... 50,800
Required:
1. Prepare a cost of goods manufactured statement for June.
2. Prepare a cost of goods sold schedule for June.

Answer 1

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