Cepeda Corporation has the following cost records for June 2014.

Indirect factory labor

$ 4,500

Direct materials used

20,000

Work in process, 6/1/14

3,000

Work in process, 6/30/14

3,800

Finished goods, 6/1/14

5,000

Finished goods, 6/30/14

7,500

Factory utilities

$ 400

Depreciation, factory equipment

1,400

Direct labor

40,000

Maintenance, factory equipment

1,800

Indirect materials

2,200

Factory manager”s salary

3,000

Instructions

(a)Prepare a cost of goods manufactured schedule for June 2014.

(b)Prepare an income statement through gross profit for June 2014 assuming sales revenue is $92,100.