Home Insert Draw Page Layout Formulas Data Review View Liberation Sans 12 - A A == General 2 Wrap Text Merge & Center Paste B I U a. Av $ 98 4 AS2 X fe After you have completed E14-12, consider the following additional question. D H 1 E14-12 Prepare a cost of goods manufactured schedule and a partial income statement 2 Cepeda Corporation has the following cost records for June 2020. 3 Indirect factory labor $4,500 Factory utilities $400 Direct materials used 20,000 Depreciation, factory equipment 1,400 5 Work in process, 6/1/20 3,000 Direct labor 40,000 6 Work in process, 6/30/20 3,800 Maintenance, factory equipment 1,800 7 Finished goods, B/1/20 5,000 Indirect materials 2,200 8 Finished goods, 6/30/20 7,500 Factory manager's salary 3,000 9 10 Instructions 11 (a) Prepare a cost of goods manufactured schedule for June 2020. 12 (6) Prepare an income statement through gross profit for June 2020 assuming sales revenue is 13 $92,100 14 NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?". 15 16 17 18 (a) CEPEDA CORPORATION 19 Cost of Goods Manufactured Schedule 20 For the Month Ended June 30, 2020 21 Work in process, June 1 Value 22 Direct materials used Value 23 Direct labor Value 24 Manufacturing overhead 25 Indirect labor Value 26 Factory manager's salary Value 27 Indirect materials Value 28 Maintenance, factory equipment Value 29 Depreciation, factory equipment Value 30 Factory utilities Value 31 Total manufacturing overhead ? 32 Total manufacturing costs ? 33 Total cost of work in process ? Less: Work in process, June 30 Value Cost of goods manufactured ? 35 37 38 (b) 19 CEPEDA CORPORATION Income Statement partial) For the Month Ended June 30, 2020 40 E14-4 E14-12 E14-16 P14-4A P10-5A + Ready MacBook A 31 32 33 34 Total manufacturing overhead Total manufacturing costs Total cost of work in process Less: Work in process, June 30 Cost of goods manufactured 7 Value 7 35 36 37 38 (6) 39 40 41 42 Value CEPEDA CORPORATION Income Statement (partial) For the Month Ended June 30, 2020 Sales Revenue Cost of goods sold Finished goods inventory, June 1 Cost of goods manufactured from (a) above) Cost of goods available for sale Less: Finished goods inventory, June 30 Cost of goods sold Gross profit 44 45 46 47 Value Value ? Value ? 49 50 51 52 After you have completed E14-12, consider the following additional question. 53 1. Assume the following balances changed: beginning work in process $4,200, direct labor 54 $39,000, and indirect materials $2,700. Show the impact of these changes on the cost 55 of goods manufactured schedule. 56 57 58 59 60 61 62 63 65 66 67 68 69 70 E14-4 E14-12 E14-16 P14-4A P14-5A Ready MacB