E1-12 Cepeda Corporation has the following cost records for June 2014.

Cepeda Corporation has the following cost records for June 2014.

E1-12 – Prepare a cost of goods manufactured schedule and a partial income statement

E1-12 Cepeda Corporation has the following cost records for June 2014.

Indirect factory labor	$4,500		Factory utilities	400
Direct materials used	20,000		Depreciation, factory equipment	1,400
Work in process, 6/1/14	3,000		Direct labor	40,000
Work in process, 6/30/14	3,800		Maintenance, factory equipment	1,800
Finished goods, 6/1/14	5,000		Indirect materials	2,200
Finished goods, 6/30/14	7,500		Factory manager's salary	3,000

Instructions:
(a) Prepare a cost of goods manufactured schedule for June 2014.
(b) Prepare an income statement through gross profit for June 2014 assuming net sales are$92,100


TUTORIAL PREVIEW
(a) Prepare a cost of goods manufactured schedule for June 2014. 

CEPEDA CORPORATION

Cost of Goods Manufactured Schedule

For the Month Ended June 30, 2014

Work in process, June 1			$3,000
Direct materials used		$20,000
Direct Labor		40,000

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