Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 3 Coronado Corporation has the following cost records for June 2020. Indirect factory labor Direct materials used Work in process, 6/1/20 Work in process,
Question 3 Coronado 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 $5,440 22,340 3,100 4,760 5,900 7,690 Factory utilities Depreciation, factory equipment Direct labor Maintenance, factory equipment Indirect materials Factory manager's salary $480 1,500 41,010 1,840 2,820 3,640 Your answer is partially correct. Try again. Prepare a cost of goods manufactured schedule for June 2020. CORONADO CORPORATION Cost of Goods Manufactured Schedule For the Month Ended June 30, 2020 Work in Process Inventory, June 1 31000 Direct Materials Used 22340 Direct Labor 41010 Manufacturing Overhead T Indirect Labor 5440 T Factory Manager's Salary 3640 Indirect Materials 2820 Maintenance, Factory Equipment 1840 T Depreciation, Factory Equipment 1500 Factory Utilities 480 Total Manufacturing Overhead 15720 Total Manufacturing Costs 79070 Total Manufacturing Costs 79070 Total Cost of Work in Process 7860 Work in Process Inventory, June 30 4760 Cost of Goods Manufactured LINK TO TEXT VIDEO: S Your answer is partially correct. Try again. Prepare an income statement through gross profit for June 2020 assuming sales revenue is $87,610. CORONADO CORPORATION Income Statement (Partial) For the Month Ended June 30, 2020 Sales Revenue Cost of Goods Sold E Finished Goods Inventory, June 1 T Cost of Goods Manufactured Cost of Goods Available for Sale Finished Goods Inventory, June 30 Cost of Goods Sold Gross Profit Click if you would like to Show Work for this question: Open Show Work
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started