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.
Required:
$$\begin{array} { l c r }
& \text { June 1 } & \text { June } 30 \
\text { Materials } & \$ 3,000 & \$ 2,700 \
\text { Work in process } & 1,000 & 1,275 \
\text { Finished goods } & 2,500 & 1,775
\end{array}$$ 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

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.
Required:
 $$\begin{array} { l c r } 
& \text { June 1 } & \text { June } 30 \
\text { Materials } & \$ 3,000 & \$ 2,700 \
\text { Work in process } & 1,000 & 1,275 \
\text { Finished goods } & 2,500 & 1,775
\end{array}$$ 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.

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.
Required:
 $$\begin{array} { l c r } 
& \text { June 1 } & \text { June } 30 \
\text { Materials } & \$ 3,000 & \$ 2,700 \
\text { Work in process } & 1,000 & 1,275 \
\text { Finished goods } & 2,500 & 1,775
\end{array}$$ 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.

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