Exercise 1512 Part Level Submission Cepeda Corporation has t

Exercise 15-12 (Part Level Submission) Cepeda Corporation has the following cost records for June 2017. Indirect factory labor Direct materials used Work in process, 6/1/17 Work in process, 6/30/17 Finished goods, 6/1/17 Finished goods, 6/30/17 $5,160 21,270 3,680 4,840 5,460 7,860 Factory utilities Depreciation, factory equipment Direct labor Maintenance, factory equipment Indirect materials Factory manager\'s salary $470 1,720 42,930 1,860 2,310 3,210 (a) Your answer is partially correct. Try again. Prepare a cost of goods manufactured schedule for June 20127

Solution

Cost of Goods manufactured for June 2017

                             Direct materials used                 $21,270

               Add:      Direct Labor                                $42,930

                            Opening Work in Process             $3,680

                            Opening Finished Goods              $5,460

                            Indirect factory labor                     $5,160

                            Factory utilities                                $470

                           Depreciation,factory equipment     $1,720

                           Maintenance,factory equipment     $1,860

                           Indirect Materials                            $2,310

                           Factory manager\'s salary               $3,210

                                                                             __________

                                                                                  $88,070

             Less : Closing Work in Process  $4,840

                        Closing Finished Goods   $7,860

                                                                _______

                                                                $12,700       $12,700  

                                                                                    ______

                                                                                 $75,370                                                                                  

                                                                              =========

______                                                                                  $75,370