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galactic ltd cost of goods sold for June was $690 000. work in process inventory on 30 June as 90 per cent of the 1 June work in process inventory. manufacturing overhead applied was 50% of direct material labour cost.
Other information relating to the company's inventories and production for June is as follows:
beginning inventories, 1 June: $
Raw material 34 000
work in process 80 000
Finished goods 204 000
Purchased of raw material during June 226 000
Ending inventory, 30 June:
Raw material 52 000
Work in process xxx
Finished goods 210 000
Required
Question 1: create a schedule of cost of goods manufactured for June.
Question 2: Create a schedule to calculate the prime cost (direct material and direct labour) incurred during June.
Question 3: Prepared a schedule to calculate the conversion cost (direct labour and manufacturing overhead) charged to work in process during June.
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