Selected information from the Blake Corporation accounting records for June foll

ID: 2342068 • Letter: S

Question

Selected information from the Blake Corporation accounting records for June follows:

Additional information for June follows:

Required:

a. What was the cost of direct materials purchased in June? $464,000

b. What was the over- or underapplied manufacturing overhead for June? overapplied manufacturing overhead, $27,000

c. What was the manufacturing overhead application rate in June? 20 per direct labor hour

d. What was the cost of products completed during June? $839,000

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?

I was able to work through the first 4 but am having problems solving e and f, thanks!

Materials Inventory BB (6/1) 92,000 464,000 419,000

The balance of the Work-in-Process Inventory account at the beginning of June:

(839000+570000-462000-419000-370000) = $158,000

Operating Profit and loss = $1035000 - (836000-27000) - 239000 = ($13,000)

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