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Hi, would like some assistance on the second question. I managed to complete the first question to this problem so I provided the answers here
Hi, would like some assistance on the second question. I managed to complete the first question to this problem so I provided the answers here as well if they will be helpful for you. Thanks!
View Policies Show Attempt History Current Attempt in Progress Kingbird Corporation has the following cost records for June 2022. Indirect factory labor $3,600 Factory utilities $300 Direct materials used 16,000 Depreciation, factory equipment 1,100 Work in process, 6/1/22 2,400 Direct labor 32,000 Work in process, 6/30/22 3,000 Maintenance, factory equipment 1,400 Finished goods, 6/1/22 4,000 Indirect materials used 1,800 Finished goods, 6/30/22 6,000 Factory manager's salary 2,400 (a) Your answer is correct. Prepare a cost of goods manufactured schedule for June 2022. KINGBIRD CORPORATION Cost of Goods Manufactured Schedule For the Month Ended June 30, 2022 Work in Process, June 1 $ Direct Materials Used $ 16.000 Direct Labor 32,000 Manufacturing Overhead Indirect Factory Labor $ 3,600 Factory Utilities 300 Depreciation, Factory Equipment 1.100 Maintenance, Factory Equipment 1,400 (a) Your answer is correct. Prepare a cost of goods manufactured schedule for June 2022. KINGBIRD CORPORATION Cost of Goods Manufactured Schedule For the Month Ended June 30, 2022 $ 2,400 $ 16,000 32.000 $ 3,600 300 uipment 1,100 uipment 1,400 Indirect Materials Used 1.800 Factory Manager's Salary 2,400 Total Manufacturing Overhead 10.600 Total Manufacturing Costs __ Total Cost of Work in Process Less V: Work in Process, June 30 Cost of Goods Manufactured $ 1,800 2,400 ead 10,600 58,600 SS 61,000 ess, June 30 -3,000 i d $ 58,000 Prepare an income statement through gross profit for June 2022 assuming sales revenue is $73,700. KINGBIRD CORPORATION Income Statement (Partial) $ $ $Step by Step Solution
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