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 $123,000 of materials. Also during the month of June, Slapshot Company incurred direct labor cost of $175,000 and manufacturing overhead of $206,000. Inventory information is as follows:   

   June 1    June 30

Materials    $48,000 $45,000

Work in process 65,000    63,000

Required:

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

2. Calculate 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 Feedback

Business   Accounting   
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Answer #1

1)

Schedule of Cost of Goods Manufactured
Raw Material, Beginning 48,000
Raw Material Purchase 123,000
Total Raw material available 171,000
Raw material, ending - 45,000
Direct Material used 126,000
Direct Labor 175,000
Manufacturing overhead 206,000
Total manufacturing cost 507,000
Work in process, beginning 65,000
Work in process, ending -63,000
Cost of Goods manufactured $ 509,000

The cost of goods manufactured for the month of June. $ 509,000

2)

Cost of 1 hockey = Costs of Goods manufactured / Number of hockey's

= 509,000 / 1,900

= $267.89

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