Question

FA 20 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 labour 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 ts by Study (a) Prepare a cost of goods manufactured schedule for June 2020. UNITAS CORPORATION Cost of Goods Manufactured Schedule For the Month Ended June 30, 2020 n > < > > >>

Answer 1

Answer

• Requirement asked

Cost of Goods manufcatured Schedule
WIP - June 1			$3,350
Direct material used		$25,200
Direct Labor		$30,000
Manufacturing Overhead:
Indirect Factory labor	$5,000
Factory manager's salary	$3,300
Indirect materials	$2,400
Maintenance Factory Equipment	$1,800
Factory utilities	$600
Depreciation Factory Equipment	$1,700
Total manufacturing overhead		$14,800
Total manufacturing cost			$70,000
Total Cost of WIP			$73,350
Less: WIP June 30			$3,300
Cost of Goods manufactured			$70,050