In June,Olympic Company purchased materials costing $38,000,and incurred direct labour costs of $42,000.Overhead totalled $27,000 for the month.Information on inventories was as follows. $$\begin{array} { l c r }
& \text { June 1 } & \text { June } 30 \
\text { Materials } & \$ 3,000 & \$ 2,700 \
\text { Work in process } & 1,000 & 1,275 \
\text { Finished goods } & 2,500 & 1,775
\end{array}$$ Required: A. $\quad$Calculate the cost of direct materials used during June.
B. $\quad$Calculate the total manufacturing cost for June.
C. $\quad$Calculate the cost of goods manufactured for June.
D. $\quad$Calculate cost of goods sold for June.

Question

In June,Olympic Company purchased materials costing $38,000,and incurred direct labour costs of $42,000.Overhead totalled $27,000 for the month.Information on inventories was as follows. $$\begin{array} { l c r } 
& \text { June 1 } & \text { June } 30 \
\text { Materials } & \$ 3,000 & \$ 2,700 \
\text { Work in process } & 1,000 & 1,275 \
\text { Finished goods } & 2,500 & 1,775
\end{array}$$ Required: A. $\quad$Calculate the cost of direct materials used during June.
B. $\quad$Calculate the total manufacturing cost for June.
C. $\quad$Calculate the cost of goods manufactured for June.
D. $\quad$Calculate cost of goods sold for June.

Quizplus · Accepted Answer

The Answer of In June,Olympic Company purchased materials costing $38,000,and incurred direct labour costs of $42,000.Overhead totalled $27,000 for the month.Information on inventories was as follows. $$\begin{array} { l c r } 
& \text { June 1 } & \text { June } 30 \
\text { Materials } & \$ 3,000 & \$ 2,700 \
\text { Work in process } & 1,000 & 1,275 \
\text { Finished goods } & 2,500 & 1,775
\end{array}$$ Required: A. $\quad$Calculate the cost of direct materials used during June.
B. $\quad$Calculate the total manufacturing cost for June.
C. $\quad$Calculate the cost of goods manufactured for June.
D. $\quad$Calculate cost of goods sold for June.

In June,Olympic Company Purchased Materials Costing $38,000,and Incurred Direct Labour