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E1-12 Cepeda Corporation

Price: $1.99


E1-12 Cepeda Corporation has the following cost records for June 2014.


Indirect factory labor  $4,500  Factory utilities  $400
Direct materials used  20,000  Depreciation, factory equipment  1,400
Work in process, 6/1/14  3,000  Direct labor  40,000
Work in process, 6/30/14  3,800  Maintenance, factory equipment  1,800
Finished goods, 6/1/14  5,000  Indirect materials  2,200
Finished goods, 6/30/14  7,500  Factory manager's salary  3,000

Instructions
(a) Prepare a cost of goods manufactured schedule for June 2014.
(b) Prepare an income statement through gross profit for June 2014 assuming sales revenue
is $92,100.

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