Aikman Corporation has the following cost records for June 2022: Instructions a. Prepare a cost of goods
Question:
Aikman Corporation has the following cost records for June 2022:
Instructions
a. Prepare a cost of goods manufactured schedule for June 2022.
b. Prepare an income statement through gross profit for June 2022, assuming net sales are $87,100.
Transcribed Image Text:
Indirect factory labour Direct materials used Work in process (6/1/22) Work in process (6/30/22) Finished goods (6/1/22) Finished goods (6/30/22) $ 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
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Related Book For
Managerial Accounting Tools For Business Decision Making
ISBN: 9781119731825
6th Canadian Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Ibrahim M. Aly, Donald E. Kieso
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