Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I really need help with this one. Thanks Question 4 Cepeda Corporation has the following cost records for June 2020. Indirect factory labor $5,220 Factory

I really need help with this one. Thanks

image text in transcribedimage text in transcribed

Question 4 Cepeda Corporation has the following cost records for June 2020. Indirect factory labor $5,220 Factory utilities $510 Direct materials used Depreciation, factory equipment 22,340 1,720 Work in process, 6/1/20 3,750 42,990 Direct labor Work in process, 6/30/20 Maintenance, factory equipment 1,980 4,570 Finished goods, 6/1/20 5,210 Indirect materials 2,920 Finished goods, 6/30/20 Factory manager's salary 8,430 3,470 (b) Prepare an income statement through gross profit for June 2020 assuming sales revenue is $88,010. CEPEDA CORPORATION Income Statement (Partial) For the Month Ended June 30, 2020 Sales Revenue Cost of Goods Sold Finished Goods Inventory, June 1 Cost of Goods Manufactured Cost of Goods Available for Sale Less Finished Goods Inventory, June 30 Cost of Goods Sold Gross Profit $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting What The Numbers Mean

Authors: David Marshall, Wayne William McManus, Daniel Viele

7th Edition

0073011215, 9780073011219

More Books

Students also viewed these Accounting questions