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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	$63,000
Work-in-process inventory	31,200
Finished goods inventory	53,700

During June, direct labor cost was $140,000, direct materials purchases were $339,500, and the total overhead cost was $373,800. The inventories at the end of June were:

Direct materials inventory	$63,600
Work-in-process inventory	34,800
Finished goods inventory	49,100

Required:

Question Content Area

1. Prepare a cost of goods manufactured statement for June.

LeMans Company Statement of Cost of Goods Manufactured For the Month of June

Direct materials:
Beginning inventoryBeginning work in processDirect laborEnding inventoryEnding work in process	$- Select -
Add: Direct laborAdd: Ending inventoryAdd: Ending work in processAdd: Manufacturing overheadAdd: Purchases	- Select -
Materials available	$fill in the blank ae09af02c076f83_5
Less: Beginning inventoryLess: Direct laborLess: Ending inventoryLess: Ending work in processLess: Manufacturing overhead	- Select -
Direct materials used in production		$fill in the blank ae09af02c076f83_8
Beginning inventoryDirect laborEnding inventoryEnding work in processPurchases		- Select -
Beginning inventoryBeginning work in processEnding inventoryEnding work in processManufacturing overhead		- Select -
Total manufacturing costs added		$fill in the blank ae09af02c076f83_13
Add: Beginning inventoryAdd: Beginning work in processAdd: Ending inventoryAdd: Ending work in processAdd: Manufacturing overhead		- Select -
Less: Beginning inventoryLess: Beginning work in processLess: Direct laborLess: Ending inventoryLess: Ending work in process		- Select -
Cost of goods manufactured		$fill in the blank ae09af02c076f83_18

Question Content Area

2. Prepare a cost of goods sold schedule for June.

LeMans Company Statement of Cost of Goods Sold For the Month of June

Beginning finished goods inventoryCost of goods available for saleCost of goods manufacturedCost of goods soldEnding finished goods inventory	$- Select -
Add: Beginning finished goods inventoryAdd: Cost of goods available for saleAdd: Cost of goods manufacturedAdd: Cost of goods soldAdd: Ending finished goods inventory	- Select -
Beginning finished goods inventoryCost of goods available for saleCost of goods manufacturedCost of goods soldEnding finished goods inventory	$- Select -
Less: Beginning finished goods inventoryLess: Cost of goods available for saleLess: Cost of goods manufacturedLess: Cost of goods soldLess: Ending finished goods inventory	- Select -
Cost of goods sold	$fill in the blank 12ac63f59f82ffc_9

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