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.