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 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- 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 inventor $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.
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
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- 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
Direct materials inventor $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.
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