Question: I really need help with this one. Thanks Question 4 Cepeda Corporation has the following cost records for June 2020. Indirect factory labor $5,220 Factory

I really need help with this one. Thanks

I really need help with this one. Thanks Question 4 Cepeda Corporationhas the following cost records for June 2020. Indirect factory labor $5,220

Question 4 Cepeda Corporation has the following cost records for June 2020. Indirect factory labor $5,220 Factory utilities $510 Direct materials used Depreciation, factory equipment 22,340 1,720 Work in process, 6/1/20 3,750 42,990 Direct labor Work in process, 6/30/20 Maintenance, factory equipment 1,980 4,570 Finished goods, 6/1/20 5,210 Indirect materials 2,920 Finished goods, 6/30/20 Factory manager's salary 8,430 3,470 (b) Prepare an income statement through gross profit for June 2020 assuming sales revenue is $88,010. 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 Cost of Goods Available for Sale Less Finished Goods Inventory, June 30 Cost of Goods Sold Gross Profit $

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!