lssey Corporation has the following cost records for June 2002.

Instructions

(a) Prepare a cost of goods manufactured schedule for June 2002.

(b) Prepare an income statement through gross profit for June 2002 assuming net sales are $97,100.

Transcribed Image Text:

Indirect factory labor Direct materials used $ 4,500 Factory utilities $ 400 20,000 Depreciation, factory equipment 1,400 Work in process, 6/1/02 3,000 Direct labor 25,000 Work in process, 6/30/02 3,500 Maintenance, factory equipment 1,300 Finished goods, 6/1/02 5.000 Indirect materials 2,200 Finished goods, 6/30/02 7,500 Factory manager's salary 3,000