Reference no: EM133023006
Question - At the beginning of June, Company A reported the following balances in its inventory accounts: Raw Materials Inventory $21,000, Work in Process Inventory $23,200, Finished Goods Inventory $40,000.
During the month of June, the company incurred direct labor costs of $45,300 and made raw material inventory purchases of $58,000. Additional factory costs incurred during the month totaled $24,100; of this amount, $2,400 was for indirect materials.
At the end of June, the company reported the following balances in its inventory accounts: Raw Materials Inventory $32,500, Work in Process Inventory $22,100, Finished Goods Inventory $19,800.
Given sales revenue of $204,000, what is the company's gross profit for June?
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