Reference no: EM13823388
During June, Argon, Inc., purchases of direct materials totaled $119,000; direct labor for the month was 3,400 hours at $10.00 per hour. Agron also incurred the following overhead costs: utilities, $5,870; supervision, $17,300; indirect materials, $6,750; depreciation, $6,200; insurance, $1,830; and miscellaneous, $1,100. Beginning inventory accounts were as follows: Materials Inventory, $48,600; Work in Process Inventory, $55,250; and finished Goods Inventory, $38,500. Ending inventory accounts were as follows: Materials Inventory, $55,100; Work in Process Inventory, $48,400; and Finished Goods Inventory, $37,450. Prepare a statement of cost of goods manufactured. Show your work.
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Prepare journal entries to record each of these transactions
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Prepare a statement of cost of goods manufactured
: During June, Argon, Inc., purchases of direct materials totaled $119,000; direct labor for the month was 3,400 hours at $10.00 per hour. Agron also incurred the following overhead costs: Prepare a statement of cost of goods manufactured.
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