Prepare a cost of goods manufactured statement for june

Reference no: EM13901153

COST OF GOODS MANUFACTURED AND SOLD

Favourite Brands Company produces condensed soups at its Red Deer plant. At the beginning of June, the following information was supplied by its accountant:

Direct Materials Inventory	$ 34,800
Work in Process Inventory	24,500
Finished goods Inventory	46,000

During June, direct labour cost was $78,000, direct materials purchases were $346,000, and the total overhead cost was $380,600. The inventories at the end of June were:

Direct Materials Inventory	$ 56,000
Work in Process Inventory	37,500
Finished goods Inventory	56,000

Required:

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

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

Reference no: EM13901153

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