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Question :
Tart Corporation has the following cost records for June 2017.
Indirect factory labor
$ 4,000
Factory utilities
$ 1,000
Direct materials used
25,000
Depreciation, factory equipment
1,400
Work in process, 6/1/17
4,800
Direct labor
30,000
Work in process, 6/30/17
2,200
Maintenance, factory equipment
2,400
Finished goods, 6/1/17
5,000
2,000
Indirect materials
Finished goods, 6/30/17
9,500
Factory manager's salary
4,500
Instructions
(a) Prepare a cost of goods manufactured schedule for June 2017.
(b) Prepare an income statement through gross profit for June 2017 assuming net sales are $85,100.
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