E1-12 Cepeda Corporation has the following cost records for June 2014.

Indirect factory labor $ 4,500 Factory utilities $ 400

Direct materials used 20,000 Depreciation, factory equipment 1,400

Work in process, 6/1/14 3,000 Direct labor 40,000

Work in process, 6/30/14 3,800 Maintenance, factory equipment 1,800

Finished goods, 6/1/14 5,000 Indirect materials 2,200

Finished goods, 6/30/14 7,500 Factory managers salary 3,000

Instructions

(a) Prepare a cost of goods manufactured schedule for June 2014.

(b) Prepare an income statement through gross profit for June 2014 assuming sales revenue is $92,100.