Question

Exercise 1-12 (Video) (Part Level Submission) Cepeda Corporation has the following cost records for June 2020. Indirect factory labor Direct materials used Work in process, 6/1/20 Work in process, 6/30/20 Finished goods, 6/1/20 Finished goods, 6/30/20 $4,760 22,180 3,300 4,420 5,480 8,370 Factory utilities Depreciation, factory equipment Direct labor Maintenance, factory equipment Indirect materials Factory manager's salary $410 1,600 41,330 1,980 2,400 3,530 (a) Prepare a cost of goods manufactured schedule for June 2020. CEPEDA CORPORATION Cost of Goods Manufactured Schedule plicy. I 2000-2020 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc.

Answer 1

CEPEDA CORPORATION
Cost of Goods manufactured Schedule
For the Month Ended June 2020
	Particulars	$	$	$
	Work in process inventory, December 1			3,300
	Direct Materials used		22,180
	Direct Labor		41,330
Add:	Factory overhead
	Indirect Factory labor	4,760
	Factory Utilities	410
	Depreciation, factory equipment	1,600
	Maintenance, factory equipment	1,980
	Indirect Materials	2,400
	Factory manager's salary	3,530
	Total Factory overhead		14,680
	Total manufacturing costs incurred during June			78,190
	Total manufacturing costs			81,490
Less:	Work in process inventory, 6/30/20			4,420
	Cost of goods manufactured			77,070

Feel free to ask any clarification, if required. Kindly provide feedback by thumbs up, if satisfied. It will be highly appreciated.
Thank you.