Cepeda Corporation has the following cost records for June 2017. 3,680 Indirect
ID: 2576328 • Letter: C
Question
Cepeda Corporation has the following cost records for June 2017.
3,680
Indirect factory labor $5,070 Factory utilities $430 Direct materials used 22,870 Depreciation, factory equipment 1,570 Work in process, 6/1/17 3,260 Direct labor 41,420 Work in process, 6/30/17 3,910 Maintenance, factory equipment 1,900 Finished goods, 6/1/17 6,070 Indirect materials 2,400 Finished goods, 6/30/17 7,840 Factory manager’s salary3,680
Question 1 Cepeda 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 $5,070 22,870 3,260 3,910 6.070 7,840 Factory utilities Depreciation, factory equipment Direct labor Maintenance, factory equipment Indirect materials Factory manager's salary $430 1,570 41,420 1,900 2,400 3,680 Prepare a cost of goods manufactured schedule for June 2017 CEPEDA CORPORATION Cost of Goods Manufactured ScheduleExplanation / Answer
Schedule of cost of goods manufactured :
Prepare income statement :
Beginning work in process 3260 DIrect material 22870 DIrect labour 41420 Manufacturing overhead Factory utilities 430 Depreciation, factory equipment 1570 Indirect materials 2400 Maintenance, factory equipment 1900 Factory manager’s salary 3680 Indirect labour 5070 15050 Total manufacturing cost 79340 82600 Less: Work in process, dec 31 (3910) Cost of goods manufactured 78690