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Please assist with part B. The red boxes are wrong. Thank you! Current Attempt in Progress Cepeda Corporation has the following cost records for June
Please assist with part B. The red boxes are wrong. Thank you!
Current Attempt in Progress Cepeda Corporation has the following cost records for June 2020. Indirect factory labor $5,420 Factory utilities $410 Direct materials used 22,300 Depreciation, factory equipment 1,560 Work in process, 6/1/20 3,620 Direct labor 42,630 Work in process, 6/30/20 4,630 Maintenance, factory equipment 1,990 Finished goods, 6/1/20 5,310 Indirect materials 2,120 Finished goods, 6/30/20 8 ,420 Factory manager's salary 3,150 CEPEDA CORPORATION Cost of Goods Manufactured Schedule For the Month Ended June 30, 2020 Work in Process Inventory, June 1 | $ 3620 Direct Materials Used 22300 Direct Labor 42630 Manufacturing Overhead Indirect Labor 5420 Factory Utilities 410 Depreciation, Factory Equipment, 1560 Maintenance, Factory Equipment, 1990 Indirect Materials 2120 Factory Manager's Salary C 3150 3150 Total Manufacturing Overhead , 14650 Total Manufacturing Costs 79580 Total Cost of Work in Process 83200 Less : Work in Process Inventory, June 30 4630 Cost of Goods Manufactured | 78570 - Your answer is partially correct. Prepare an income statement through gross profit for June 2020 assuming sales revenue is $89,480. CEPEDA CORPORATION Income Statement (Partial) For the Month Ended June 30, 2020 Sales Revenue $ 89480 Cost of Goods Sold Finished Goods Inventory, June 1 + 5310 i Cost of Goods Manufactured 83200 Cost of Goods Available for Sale - 83200 98510 420 | Less : Finished Goods Inventory, June 30 - 8420 i Cost of Goods Available for Sale $ Les Finished Goods inventory June 30 C Cost of Goods Sold Gross Profit 80090 9390 Save for Later Attempts: 1 of 3 used SubmitStep by Step Solution
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