Selected information from the Blake Corporation accountingrecords for June follows:
| Materials Inventory |
| BB (6/1) | 95,000 | | |
| 467,000 | 422,000 | |
| | | |
| Work-In-Process Inventory |
| Labor | 400,000 | | |
| EB(6/30) | 600,000 | | |
| | | |
| Finished Goods Inventory |
| BB (6/1) | 297,000 | | |
| 842,000 | 839,000 | |
| | | |
| Manufacturing Overhead Control |
| 370,000 | | |
| | 370,000 | |
| | | |
| Applied Manufacturing Overhead |
| | 400,000 | |
| 370,000 | | |
| 30,000 | | |
Additional information for June follows:
- Labor wage rate was $20 per hour.
- During the month, sales revenue was $1,041,000, and selling andadministrative costs were $242,000.
- This company has no indirect materials or supplies.
- The company applies manufacturing overhead on the basis ofdirect labor-hours.
Required:
a. What was the cost of direct materialspurchased in June?
b. What was the over- or underappliedmanufacturing overhead for June?
c. What was the manufacturing overheadapplication rate in June?
d. What was the cost of products completedduring June?
e. What was the balance of the Work-in-ProcessInventory account at the beginning of June?
f. What was the operating profit (or loss) forJune? (Negative amounts should be indicated by a minussign.)
