B compute cost of goods sold beginning fg 60000 cost

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(b) Compute cost of goods sold
Exercise 1-12 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 EXERCISE 1-12 (a) 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 Manufacturing overhead Indirect labor ......................................... $4,500 Factory manager’s salary .................... 3,000 Indirect materials .................................. 2,200 Maintenance, factory equipment ......... 1,800 Depreciation, factory equipment ......... 1,400 Factory utilities ..................................... 400 Total manufacturing overhead ...... 13,300 Total manufacturing costs ........................... 73,300
Total cost of work in process ...................... 76,300 Less: Work in process, June 30 ................. 3,800 Cost of goods manufactured ...................... $72,500 (b) CEPEDA CORPORATION Income Statement (Partial) For the Month Ended June 30, 2014 Sales revenue ............................................................ $92,100 Cost of goods sold Finished goods inventory, June 1 ................... $ 5,000 Cost of goods manufactured [from (a)] ............ 72,500 Cost of goods available for sale ...................... 77,500 Less: Finished goods inventory, June 30 ..... 7,500 Cost of goods sold .......................... 70,000 Gross profit ............................................................... $22,100
Exercise 1-16 An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended  June 30, 2014. Inventories Beginning Ending Raw materials $9,000 $13,100 Work in process 5,000 7,000 Finished goods 9,000 8,000 Costs incurred: raw materials purchases $54,000, direct labor $47,000, manufacturing overhead $19,900. The specific  overhead costs were: indirect labor $5,500, factory insurance $4,000, machinery depreciation $4,000, machinery  repairs $1,800, factory utilities $3,100, miscellaneous factory costs $1,500. Assume that all raw materials used were  direct materials. Managerial Acc E1-16 with a and b_P 1-1A with a and b part_P1-4A with a_b and c EXERCISE 14-16 (a) ROBERTS MANUFACTURING Cost of Goods Manufactured Schedule For the Month Ended June 30, 2012 Work in process inventory, June 1 .................. $ 5,000 Direct materials Raw materials inventory, June 1 ........... $ 9,000 Raw materials purchases ....................... 54,000

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