Question: Cost of Goods Manufactured Slapshot Company makes ice hockey sticks. During the month of June, the company purchased $126,000 of materials. Also during the month of June, Slapshot Company incurred direct labor cost of $165,000 and manufacturing overhead of $215,000. Inventory information is as follows:
June 1 June 30
Materials $42,000 $51,000
Work in process 60,000 71,000
Required: 1. Calculate the cost of goods manufactured for the month of June.
2. Calculate the cost of one hockey stick assuming that 18,000 sticks were completed during June.