Cepeda Corporation has the following cost records for June 2017. Prepare a cost

Question

Cepeda Corporation has the following cost records for June 2017. Prepare a cost of goods manufactured schedule for June 2017. Prepare an income statement through gross profit for June 2017 assuming sales revenue is $89,590.

Indirect factory labor $5,520 Factory utilities $420 Direct materials used 21,800 Depreciation, factory equipment 1,730 Work in process, 6/1/17 4,000 Direct labor 42,630 Work in process, 6/30/17 4,400 Maintenance, factory equipment 1,870 Finished goods, 6/1/17 5,560 Indirect materials 2,930 Finished goods, 6/30/17 8,580 Factory manager’s salary 3,510

Explanation / Answer

total cost of good sold

asssumed sales $89590

cost of good sold $75530

so profit(89590-75530)

$14060

73530

particulars amount amount direect material 21800 add direct labour 42630 add indirect material 2930 add indirect labour 5520 72880 add wip 4000 76880 less wip 4400 72480 less depriciation 1730 70750 add factory utilities 420 add maintainance 1870 add factoy manager salary 3510 5800 76550 add finished goods 5560 82110 less finished goods 8580

total cost of good sold

asssumed sales $89590

cost of good sold $75530

so profit(89590-75530)

$14060

73530

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.