Cepeda corporation has the following cost records for june 2014.
Cepeda corporation has the following cost records for june 2014..
E1-12 – Prepare a cost of goods manufactured schedule and a partial income statement
E1-12 Cepeda Corporation has the following cost records for June 2014.
|
Indirect factory labor |
$4,500 |
|
Factory utilities |
400 |
|
Direct materials used |
20,000 |
Depreciation, factory equipment |
1,400 |
|
|
Work in process, 6/1/14 |
3,000 |
Direct labor |
40,000 |
|
|
Work in process, 6/30/14 |
3,800 |
Maintenance, factory equipment |
1,800 |
|
|
Finished goods, 6/1/14 |
5,000 |
Indirect materials |
2,200 |
|
|
Finished goods, 6/30/14 |
7,500 |
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 net sales are$92,100
Cepeda corporation has the following cost records for june 2014.