CImas Corporation has the following cost records for June 2017 Indirect factory

ID: 2436818 • Letter: C

Question

CImas Corporation has the following cost records for June 2017 Indirect 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 $1,000 1,200 28,000 2,200 2,500 4,300 S 6,000 Factory utlites fon, factory equipment abor 23,000 4,500 2,000 Maintenance, factory equipment 5,500 Indirect materials 9,000 Factory manager's salary Instructions (a) Prepare a cost of goods manufactured schedule for June 2017. Note: Write clearly and use proper labels [do not abbreviate]. To earn full credit, you must write down the appropriate levels for each shown amount

Explanation / Answer

Cost of Goods Manufactured Schedule

Direct Materials Used

$23,000

Direct Labour

$28,000

Manufacturing Overhead

Indirect Labour

$ 6000

Factory Utilities

$ 1000

Depreciation on factory equipment

$ 1200

Factory Manager’s Salary

$ 4300

Maintenance Factory Equipment

$ 2200

Indirect Materials

$ 2500

Total Manufacturing Overhead

$ 17,200

Total Manufacturing Cost

$ 68200

Add: Opening Work-in-Process on 6/1/17

$4500

Less: Closing Work-in-Process on 6/30/17

($2000)

COST OF GOODS MANUFACTURED

$ 70,700