Question

# Cost of Goods Manufactured Slapshot Company makes ice hockey sticks. During the month of June, the...

Cost of Goods Manufactured

Slapshot Company makes ice hockey sticks. During the month of June, the company purchased \$128,000 of materials. Also during the month of June, Slapshot Company incurred direct labor cost of \$177,000 and manufacturing overhead of \$237,000. Inventory information is as follows:

 June 1 June 30 Materials \$48,000 \$45,000 Work in process 65,000 63,000

Required:

Calculate the cost of goods manufactured for the month of June.

caluclate late the cost of one hockey stick assuming that 1,900 sticks were completed during June. Round your answer to the nearest cent.
per hockey stick

Cost of Goods Sold

Slapshot Company makes ice hockey sticks. During the month of June, 1,900 sticks were completed at a cost of goods manufactured of \$536,000. Suppose that on June 1, Slapshot had 660 units in finished goods inventory costing \$160,000 and on June 30, 930 units in finished goods inventory costing \$215,000.

. Prepare a cost of goods sold statement for the month of June.

 Slapshot Company Cost of Goods Sold Statement For the Month of June \$fill in the blank e04f39f5d01b004_2 fill in the blank e04f39f5d01b004_4 fill in the blank e04f39f5d01b004_6 \$fill in the blank e04f39f5d01b004_8

Calculate the number of sticks that were sold during June.

1) Cost of goods manufactured

 Beginning material 48000 Material purchase 128000 Less: Ending material -45000 Material used 131000 Direct labor 177000 Manufacturing overhead 237000 Total manufacturing cost 545000 Beginning WIP 65000 Less: Ending WIP -63000 Cost of goods manufactured 547000

Cost of one hockey sticks = 547000/1900 = 287.89

2) Prepare a cost of goods sold statement for the month of June.

 Slapshot Company Cost of Goods Sold Statement For the Month of June Beginning finished goods 160000 Cost of goods manufactured 536000 Ending finished goods -215000 cost of goods sold 481000

Sale unit = 660+900-930 = 630 Units