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Selected information from the Blake Corporation accounting records for June follows.
Materials Inventory
BB (6/1) 78,000405,000
450,000
Work-In-Process Inventory
Labor 345,000
EB(6/30)430,000
Finished Goods Inventory
BB (6/1)280,000
825,000 822,000
Cost of Goods Sold
-- 13,000
Manufacturing Overhead Control
240,000
240,000
Applied Manufacturing Control
253,000
240,000
13,000
Additional information for June follows:
- Labor wage rate was $30 per hour.
- During the month, sales revenue was $1,026,000, and selling and administrative costs were $225,000.
- This company has no indirect materials or supplies.
- The company applies manufacturing overhead on the basis of direct labor-hours.
Required:
a.What was the cost of direct materials purchased in June?
b.What was the over- or underapplied manufacturing overhead for June?
c.What was the manufacturing overhead application rate in June?
d.What was the cost of products completed during June?
e.What was the balance of the Work-in-Process Inventory account at the beginning of June?
f.What was the operating profit (or loss) for June? Any over- or underapplied overhead is written off to
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