Question

Cepeda Corporation has the following cost records for June 2017. Indirect factory labor $5,420 Factory utilities $410 Direct materials used 22,300 Depreciation, factory equipment 1,560 Work in process, 6/1/17 3,620 Direct labor 42,630 Work in process, 6/30/17 4,630 Maintenance, factory equipment 1,990 Finished goods, 6/1/17 5,310 Indirect materials 2,120 Finished goods, 6/30/17 8,420 Factory manager’s salary 3,150 Prepare a cost of goods manufactured schedule for June 2017

Answer 1

SOLUTION

Schedule of cost of goods manufactured-

Particulars	Amount ($)	Amount ($)	Amount ($)
Work in process, 6/1/17			3,620
Direct materials used		22,300
Direct labor		42,630
Manufacturing overhead-
Indirect labor	5,420
Factory manager's salary	3,150
Indirect materials	2,120
Maintenance, factory equipment	1,990
Depreciation, factory equipment	1,560
Factory utilities	410
Total manufacturing overhead		14,650
Total manufacturing costs			79,580
Total cost of work in process			83,200
Less: Work in process,6/30/17			(4,630)
Cost of goods manufactured			78,570

answered by: anonymous