Aikman Corporation has the following cost records for June 2016:

Instructions
(a) Prepare a cost of goods manufactured schedule for June 2016.
(b) Prepare an income statement through gross profit for June 2016, assuming net sales are $87,100.

Transcribed Image Text:

Indirect factory labour Direct materials used Work in process (6/1/16) Work in process (6/30/16) Finished goods (6/1/16) Finished goods (6/30/16) $ 4,500 25,000 3,000 2,800 5,000 9,500 Factory utilities Depreciation, factory equipment Direct labour Maintenance, factory equipment Indirect materials Factory manager's salary $ 400 1,400 30,000 1,800 2,200 3,000