I need part b completed Thank you Exercise 1412 Part Level S

I need part b completed. Thank you.

Exercise 14-12 (Part Level Submission) Cepeda Corporation has the following cost records for June 2017 S5,540 22,490 3,340 4,470 5,620 8,410 Factory utilities Depreciation, factory equipment Direct labor Maintenance, factory equipment Indirect materials Factory manager\'s salary $420 1.760 41,640 1,890 2,530 3,300 Indirect factory labor Direct materials used in process, 6/1/17 in process, /30/17 Finished goods, 6/1/17 Finished goods, 6/30/17 (a) Your answer is correct. Prepare a cost of goods manufactured schedule for June 2017 CEPEDA CORPORATION Cost of Goods For the Month Ended June 30, 2017 Work in Process, June 1 3340 Direct Labor 41640 Direct Materials Used 22490 Indirect Materials 2530 Indirect Labor 5540 Factory Utilities 1760 1890 Factory Manager\'s Salary 3300 Total 15440 Total Manufacturing Costs 79570 Total Cost of Work in Process 82910 Less Work in Process, June 30 (4470) Cost of Goods 78440 Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT VIDEO: STMILAR EXERCISE VIDEO: APPLIED SKILLS

Solution

CEPEDA CORPORATION

Income Statement (Partial)

For the Month Ended June 30, 2017

Net sales

$87990

Cost of goods sold

Finished goods, 6/1/17

5620

Add: Cost of Goods Manufactured [from (a)]

78440

Cost of goods available for sale

84060

Less: Finished goods 6/30/17

8410

Cost of goods sold

75650

Gross profit

$12340

Net sales		$87990
Cost of goods sold
Finished goods, 6/1/17	5620
Add: Cost of Goods Manufactured [from (a)]	78440
Cost of goods available for sale	84060
Less: Finished goods 6/30/17	8410
Cost of goods sold		75650
Gross profit		$12340