Question

XYZ Company reports the following inventory data for the month of June.

	June 1	June 30
Direct materials	$ 50.00	$ 80.00
Work in process	$140.00	$180.00
Finished goods	$240.00	$250.00

Direct materials purchased	$140.00	Indirect costs of production	$180.00
Direct costs of production	$220.00	Selling and administrative costs	$210.00

Answer the following questions about XYZ Company for the month of June:

a) What was the total manufacturing cost (product cost) in the month of June? $ Answer

b) What was the cost of direct materials used in production in June? $ Answer

c) What was the direct labour cost in June? $ Answer

d) What was the non direct costs of production incurred in June? Answer

e) What was the cost of goods manufactured at the end of June? $ Answer

f) What was the cost of goods sold in June? $ Answer

g) What were the prime costs in June? $ Answer

h) What were the conversion costs in June? $ Answer

i) What were the period costs in June? $ Answer

j) If the sales revenue in June was $950, what was XYZ's operating income before taxes? $ Answer

Please answer all parts of the question.

Answer 1