Cepeda Corporation
Cepeda Corporation
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E1-12 – Prepare a cost of goods manufactured schedule and a partial income statement
E1-12 Cepeda Corporation has the following cost records for June 2014.
| Indirect factory labor | $4,500 | Factory utilities | 400 | |
| Direct materials used | 20,000 | Depreciation, factory equipment | 1,400 | |
| Work in process, 6/1/14 | 3,000 | Direct labor | 40,000 | |
| Work in process, 6/30/14 | 3,800 | Maintenance, factory equipment | 1,800 | |
| Finished goods, 6/1/14 | 5,000 | Indirect materials | 2,200 | |
| Finished goods, 6/30/14 | 7,500 | Factory manager’s salary | 3,000 |
Instructions:
(a) Prepare a cost of goods manufactured schedule for June 2014.
(b) Prepare an income statement through gross profit for June 2014 assuming net sales are$92,100
