Exercise 112 Cepeda Corporation has the following cost recor

Exercise 1-12 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 $430 1,570 41,420 1,900 2,400 3,680 $5,070 22,870 Factory utilities Depreciation, factory equipment 3,260 Direct labor 3,910 Maintenance, factory equipment 6,070 Indirect materials 7,840 Factory manager\'s salary Prepare a cost of goods manufactured schedule for June 2017. CEPEDA CORPORATION Cost of Goods Manufactured Schedule For the Month Ended June 30, 2017 June 30, 2017 For the Year Ended June 30, 2017

Solution

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Cost of Goods Manufactured Schedule
For the Month ended 30 June 2017
Work in Progress, 6/1/17			$    3,260
Direct Material Used		$ 22,870
Direct Labour		$ 41,420
Manufacturing Overhaed
Indirect Factory Labour	$        5,070
Factory manager Salary	$        3,680
Indirect Material	$        2,400
Maintainance, Factory Equipment	$        1,900
Depreciation, Factory Equipment	$        1,570
Factory utilities	$           430
Total Manufacturing Overhaed		$ 15,050
Total Cost of Work in Progress			$ 79,340
Less: Work in Progress , 6/30/17			$    3,910
Cost of Goods Manufactured			$ 78,690