Question

Cepeda Corporation has the following cost records for June 2020. Indirect factory labor $5,520 Factory utilities $420 Direct materials used 21,800 Depreciation, factory equipment 1,730 Work in process, 6/1/20 4,000 Direct labor 42,630 Work in process, 6/30/20 4,400 Maintenance, factory equipment 1,870 Finished goods, 6/1/20 5,560 Indirect materials 2,930 Finished goods, 6/30/20 8,580 Factory manager’s salary 3,510 Collapse question part

(a) Prepare a cost of goods manufactured schedule for June 2020.

Answer 1

Cepeda corporation
Cost of Goods Manufactured schedule
Beginning Work in process			$           4,000.00
Direct Material Used		$         21800.00
Direct labor		$         42630.00
Manufacturing Overheads
Indirect factory labor	$ 5520.00
Factory utilities	$              420.00
Depreciation-Factory equipment	$          1,730.00
Maintenance, Factory equipment	$          1,870.00
Indirect material	$          2,930.00
Factory manager salary	$          3,510.00
Total manufacturing overhead		$         15,980
Total manufacturing cost incurred during the year			$ 80410.00
Total manufactiuring cost to account for			$        84410.00
Less: Ending WIP inventory			$           4,400.00
Cost of goods manufactured			$ 80010.00