Indirect factory labor Direct materials used has the following cost records for June 2025. Work in process, 6/1/25 Work in process, 6/30/25 Finished goods, 6/1/25 Finished goods, 6/30/25 $3,700 16,400 2,460 3,080 4,100 6,150 Factory utilities Depreciation, factory equipment Direct labor Maintenance, factory equipment Indirect materials used Factory manager's salary $310 1,130 32,800 1,440 1,850 2,460
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
![Larkspur Corporation has the following cost records for June 2025.
Indirect factory labor
Direct materials used
Work in process, 6/1/25
Work in process, 6/30/25
Finished goods, 6/1/25
Finished goods, 6/30/25
(a)
O
$3,700
16,400
2,460
3,080
Factory utilities
Depreciation, factory equipment
Your answer is partially correct.
Direct labor
Maintenance, factory equipment
4,100 Indirect materials used
6,150 Factory manager's salary
Prepare a cost of goods manufactured schedule for June 2025.
$310
1,130
32,800
1,440
1,850
2,460](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F97fb0af1-8233-4785-b739-5232e26a42da%2F04d6dd7b-827a-4e3c-ace2-7c0fa6576f75%2Fdpdfeni6_processed.jpeg&w=3840&q=75)
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