Question

Question 4 View Policies Current Attempt in Progress Cepeda Corporation has the following cost records for June 2020. $4,690 Factory utilities $430 Indirect factory labor Direct materials used 22,410 Depreciation, factory equipment 1,770 Work in process, 6/1/20 3,970 Direct labor 42,100 Work in process, 6/30/20 1.910 4.410 5,650 Maintenance, factory equipment Indirect materials Finished goods, 6/1/20 2,810 Finished goods, 6/30/20 8,030 Factory manager's salary 3,930 Prepare a cost of goods manufactured schedule for June 2020. CEPEDA CORPORATION Cost of Goods Manufactured Schedule For the Year Ended June 30, 2020

Answer 1

Ans.	CEPEDA   CORPORATION
	Cost of Goods Manufactured
	For the Year Ended June 30, 2020
	Particulars	Amount	Amount
	Beginning Work in process inventory		$3,970
	Manufacturing Costs:
	Direct materials used		$22,410
	Direct labor		$42,100
	Manufacturing overhead:
	Indirect factory labor	$4,690
	Factory utilities	$430
	Depreciation, factory equipment	$1,770
	Maintenance, factory equipment	$1,910
	Indirect materials	$2,810
	Factory manager's salary	$3,930
	Manufacturing overhead		$15,540
	Total manufacturing costs		$80,050
	Total cost of work in process		$84,020
	Less: Ending Work in process inventory		-$4,410
	Cost of goods manufactured		$79,610
	*Total manufacturing costs = Direct materials used + Direct labor + Manufacturing overhead
	*Total cost of work in process   = Total manufacturing costs + Beginning work in process
	*Inventories at 6/1/20 are considered beginning and inventories at 6/31/20 are considered
	as ending inventories.
	*Finished goods inventories are used in the statement of cost of goods sold.