n June, Olympic Company purchased materials costing $38,000, and incurred direct labour costs of $42,000. Manufacturing overhead totalled $27,000 for the month. Information on inventories was as follows.
June 1 June 30
Materials $3,000 $2,700
Work-in-process 1,000 1,275
Finished goods 2,500 1,775
Required:
A. Calculate the cost of direct materials used during June.
B. Calculate the total manufacturing cost for June.
C. Calculate the cost of goods manufactured for June.
D. Calculate cost of goods sold for June.

Question

Quizplus · Accepted Answer

The Answer of n June, Olympic Company purchased materials costing $38,000, and incurred direct labour costs of $42,000. Manufacturing overhead totalled $27,000 for the month. Information on inventories was as follows.
June 1 June 30
Materials $3,000 $2,700
Work-in-process 1,000 1,275
Finished goods 2,500 1,775
Required:
A. Calculate the cost of direct materials used during June.
B. Calculate the total manufacturing cost for June.
C. Calculate the cost of goods manufactured for June.
D. Calculate cost of goods sold for June.

N June, Olympic Company Purchased Materials Costing $38,000, and Incurred