Exercise 14-12

Cepeda Corporation has the following cost records for June 2017.

Indirect factory labor		$5,150		Factory utilities		$500
Direct materials used		22,360		Depreciation, factory equipment		1,620
Work in process, 6/1/17		3,480		Direct labor		42,170
Work in process, 6/30/17		4,620		Maintenance, factory equipment		2,000
Finished goods, 6/1/17		5,660		Indirect materials		2,600
Finished goods, 6/30/17		7,680		Factory managers salary		3,340

CEPEDA CORPORATION Cost of Goods Manufactured Schedule For the Month Ended June 30, 2017 4 T Work in Process, June 1 A Direct Materials Used Direct Labor T Manufacturing Overhead A T Indirect Labor Factory Manager's Salary Indirect Materials T Maintenance, Factory Equipment A IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Work in Process, June 30 IIIIIIIIIIIIIIIIIII Cost of Goods Manufactured Prepare an income statement through gross profit for June 2017 assuming sales revenue is $89,91 CEPEDA CORPORATION Income Statement (Partial) .. . Cost of Goods Sold .... .......... Cost of Goods Manufactured T Cost of Goods Available for Sale $ Less Finished Goods, June 30 A T Cost of Goods Sold IIIIIIIIIIIIII 1 Gross Profit CEPEDA CORPORATION Cost of Goods Manufactured Schedule For the Month Ended June 30, 2017 4 T Work in Process, June 1 A Direct Materials Used Direct Labor T Manufacturing Overhead A T Indirect Labor Factory Manager's Salary Indirect Materials T Maintenance, Factory Equipment A IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Work in Process, June 30 IIIIIIIIIIIIIIIIIII Cost of Goods Manufactured Prepare an income statement through gross profit for June 2017 assuming sales revenue is $89,91 CEPEDA CORPORATION Income Statement (Partial) .. . Cost of Goods Sold .... .......... Cost of Goods Manufactured T Cost of Goods Available for Sale $ Less Finished Goods, June 30 A T Cost of Goods Sold IIIIIIIIIIIIII 1 Gross Profit