Cepeda Corporation has the following cost records for June 2012.
|
Indirect factory labor
|
$4,500
|
Factory utilities
|
$400
|
|
Direct materials used
|
20,000
|
Depreciation, factory equipment
|
1,400
|
|
Work in process, 6/1/12
|
3,000
|
Direct labor
|
40,000
|
|
Work in process, 6/30/12
|
3,800
|
Maintenance, factory equipment
|
1,800
|
|
Finished goods, 6/1/12
|
5,000
|
Indirect materials
|
2,200
|
|
Finished goods, 6/30/12
|
7,500
|
Factory manager"s salary
|
3,000
|
Instructions
(a) Prepare a cost of goods manufactured schedule for June 2012.
(b) Prepare an income statement through gross profit for June 2012 assuming net sales are $92,100.