Troy Corporation has the following cost records for June 2012.
|
Indirect factory labor |
$ 4,500 |
Factory utilities |
$ 400 |
|
Direct materials used |
20,000 |
Depreciation, factory equipment |
1,400 |
|
Work in process, 6/1/12 |
3,000 |
Direct labor |
30,000 |
|
Work in process, 6/30/12 |
3,800 |
Maintenance, factory equipment |
1,800 |
|
Finished goods, 6/1/12 |
5,000 |
Indirect materials |
2,200 |
|
Finished goods, 6/30/12 |
7,500 |
Factory manager’s salary |
3,000 |
|
Indirect factory labor |
$ 4,500 |
Factory utilities |
$ 400 |
|
Direct materials used |
20,000 |
Depreciation, factory equipment |
1,400 |
|
Work in process, 6/1/12 |
3,000 |
Direct labor |
30,000 |
Instructions
(a) Prepare a cost of goods manufactured schedule for June 2012.
(b) Prepare an income statement through gross profit for June 2012 assuming net sales are $87,100.