Question

Question 7 Unitas Corporation has the following cost records for June 2020: Indirect factory labour $5,000 Factory utilities Direct materials used 25,200 Depreciation, factory equipment Work in process (6/1/20) 3,350 Direct labeur Work in process (6/30/20) 3,300 Maintenance, factory equipment Finished goods (6/1/20) 5,400 Indirect materials Finished goods (6/30/20) 8,850 Factory manager's salary $600 1,700 30,000 1,800 2,400 3,300 • Question 7 500g Your answer is correct. Prepare a cost of goods manufactured schedule for June 2020. UNITAS CORPORATION Cost of Goods Manufactured Schedule For the Month Ended June 30, 2020 Work in Process, une 1 $350 Direct Materials Used 325200 Direct Labour 30000 Manufacturing Overhead Indirect Factory Labour Factory Manager's Salary 3300 Indirect Material 2400 Maintenance Factory Equipment 71800 Factory Utilities 1500 Depreciation, Factory Equipment 11700 Total Manufacturing Overhead Total Manufacturing Costs Doooo Total Cost of Work in Process 73350 Less Work in Process, June 30 0300 Cost of Goods Manufactured $70050 14100 • Question 7 Prepare an income statement through gross profit for June 2020, assuming net sales are $94,500 (Enter negative amounts using either UNITAS CORPORATION Income Statement (Partial)

Answer 1

for June 2020 Amount 94.500 UNITAS Corporation Income statement Culial) Poarticulous Amount Net sales Less: Cost of goods sold! finished goods (6/1120) Add - Cost of goods manufachred 70050 Cost of goods available for Less.Finished goods , C6130/20) 8850 Cost of goods solde Gross profi 5400 75450 Sale 66.600 27.900