Question

*Exercise 10-12 (Part Level Submission) Cepeda Corporation has the following cost records for June 2017 Indirect factory labor Direct materials used Work in process, 6/1/17 Work in process, 6/30/17 Finished goods, 6/1/17 Finished goods, 6/30/17 $4,500 20,000 3,000 3,800 5,000 7,500 Factory utilities Depreciation, factory equipment Direct labor Maintenance, factory equipment Indirect materials Factory manager's salary $400 1,400 40,000 1,800 2,200 3,000 *(a) Prepare a cost of goods manufactured schedule for June 2017. CEPEDA CORPORATION Cost of Goods Manufactured Schedule Attempts: 0 of 3 used

Answer 1

Solution

CEPEDA CORPIRATION
Cost of Goods Manufactured
For the month ended June 2017
Beginning Work in process			$                3,000.00
Direct material used		$       20,000.00
Direct labor		$       40,000.00
Manufacturing Overheads
factory Utilities	$            400.00
Depreciation, factory Equipment	$        1,400.00
Maintenance factory Equipment	$        1,800.00
Indirect material	$        2,200.00
Factory manager's salary	$        3,000.00
Indirect factory labor	$        4,500.00
Total Manufacturing Overheads		$       13,300.00
Total Manufacturing Costs			$             73,300.00
Total cost to account for			$             76,300.00
Less: Work in process Ending			$                3,800.00
Cost of Goods Manufactured			$             72,500.00