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Question 2

 

Troy Corporation has the following cost records for June 2012.

Indirect factory labor

$ 4,511

 

Factory utilities

$ 372

Direct materials used

23,806

 

Depreciation, factory equipment

1,461

Work in process, 6/1/12

3,220

 

Direct labor

25,916

Work in process, 6/30/12

3,815

 

Maintenance, factory equipment

1,805

Finished goods, 6/1/12

4,740

 

Indirect materials

2,165

Finished goods, 6/30/12

7,563

 

Factory manager's salary

3,481

 

 

 

Prepare a cost of goods manufactured schedule for June 2012. (List amounts from largest to smallest e.g. 10, 5, 3, 2.)

Prepare an income statement through gross profit for June 2012 assuming net sales are $84,202.

 

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