Cimas Corporation has the following cost records for June 2017. ndirect factory
ID: 2436474 • Letter: C
Question
Cimas Corporation has the following cost records for June 2017. ndirect factory labor Direct materials used Work in process, 6/1/17 Work in process, 6/30/17 Finished goods, 6/1/17 Finished goods, 6/30/17 S 6,000 Factory utlites S 1,000 1,200 28,000 2.200 2,500 4,300 23,000 Depreciaton, factory equipment 4,500 Direct labor 2,000 Maintenance, factbry equipment 5,500 Indirect materials Instructions: (a) Prepare a cost of goods manufactured schedule for June 2017. Note: Write clearly and use proper labels [do not abbreviatel. To earn full credit, you must write down the appropriate levels for each shown amount.Explanation / Answer
Statement of cost of goods manufactured $ $ Direct Material used 23,000 Direct Labor 28,000 Prime cost ( A ) 51,000 Manufacturing overhead costs; Indirect factory labor 6,000 Indirect materials 2,500 Factory utilities 1,000 Depreciation, factory equipment 1,200 Maintenance, factory equipment 2,200 Factory manager's salary 4,300 Total overhead costs ( B ) 17,200 Total Manufacturing cost incurred during the month (C ) = ( A ) + (B) 68,200 Add: Beginning work in process 4,500 Less: Ending work in process (2,000) Cost of goods manufactured 70,700 Add: Beginning Finished goods 5,500 Less: Ending Finished goods (9,000) Cost of goods sold 67,200