Exercise 1-12 (Video) Cepeda Corporation has the following cost records for June 2020. Indirect factory labor Direct materials used Work in process, 6/1/20 Work in process, 6/30/20 Finished goods, 6/1/20 Finished goods, 6/30/20 $4,600 Factory utilities 21,000 Depreciation, factory equipment 3,100 Direct labor 3,900 Maintenance, factory equipment 5,100 Indirect materials 7,600 Factory manager's salary $410 1,500 41,000 1,810 2,100 3,100 Your answer is correct. Prepare a cost of goods manufactured schedule for June 2020. CEPEDA CORPORATION Cost of Goods Manufactured Schedule For the Month Ended June 30, 2020 3100 Work in Process Inventory, June 1 21000 Direct Materials Used Direct Labor 41000 Manufacturing Overhead Manufacturing Overhead 4600 Indirect Labor 410 Factory Utilities 1500 Depreciation, Factory Equipment > 1810 Maintenance, Factory Equipment > 2100 Indirect Materials > 3100 Factory Manager's Salary > 13520 Total Manufacturing Overhead > 75520 Total Manufacturing Costs Total Cost of Work in Process 78620 Less 2 Work in Process Inventory, June 30 -3900 74720 Cost of Goods Manufactured Your answer is partially correct. Try again. Prepare an income statement through gross profit for June 2020 assuming sales revenue is $87,200. CEPEDA CORPORATION Income Statement (Partial) For the Month Ended June 30, 2020 87200 Sales Revenue Cost of Goods Sold Finished Goods Inventory, June 1 74720 > Cost of Goods Manufactured 5100 Cost of Goods Available for Sale 79820 Less Finished Goods Inventory, June 30 - 7600 Cost of Goods Sold 72220 Gross Profit 14980 Click if you would like to Show Work for this question: Open Show Work