Question

pt. B

*Exercise 19-12 a-b (Part Level Submission) Sunland Corporation has the following cost records for June 2020. Indirect factory labor $5,420 Factory utilities Direct materials used 22,300 Depreciation, factory equipment Work in process, 6/1/20 3,620 Direct labor Work in process, 6/30/20 4,630 Maintenance, factory equipment Finished goods, 6/1/20 5,310 Indirect materials Finished goods, 6/30/20 8,420 Factory manager's salary $410 1,560 42,630 1,990 2,120 3,150 *(a) Your answer is correct. Prepare a cost of goods manufactured schedule for June 2020. SUNLAND CORPORATION Cost of Goods Manufactured Schedule For the Month Ended June 30, 2020 Work in Process Inventory, June 1 $13,620 Direct Materials Used Direct Labore Manufacturing Overhead $22,300 42,630 Indirect Labor Factory Utilities Depreciation, Factory Equipment Maintenance, Factory Equipment Indirect Materials Factory Manager's Salary Total Manufacturing Overhead Total Manufacturing Costs Total Cost of Work in Process $15,420 410 1,560 1,990 1,120 3,150 (14,650 119,580 83,200

Answer 1

Answer-b)-

SUNLAND CORPORATION
INCOME STATEMENT (PARTIAL)
PARTICULARS	AMOUNT	AMOUNT
	$	$
Sales		89480
Less-Cost of goods sold		80090
Beginning finished goods inventory	5310
Add: Cost of goods manufactured	83200
Cost of goods available for sale	88510
Less: Ending finished goods inventory	8420
Gross Profit		9390