Solution-Prepare the cost of goods manufactured schedule

Prepare the cost of goods manufactured schedule

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Reference no: EM131010857

E1-16 An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended June 30, 2014.

Inventories	Beginning	Ending
Raw materials	$9,000	$13,100
Work in process	5,000	7,000
Finished goods	9,000	8,000

Costs incurred:

Raw materials purchases	$54,000
Direct labor	47,000
Manufacturing overhead	19,900

The specific overhead costs were:

Indirect labor	$5,500	Machinery repairs	1,800
Factory insurance	4,000	Factory utilities	3,100
Machinery depreciation	4,000	Miscellaneous factory costs	1,500

Assume that all raw materials used were direct materials.

Instructions:

(a) Prepare the cost of goods manufactured schedule for the month ended June 30, 2014.

(b) Show the presentation of the ending inventories on the June 30, 2014, balance sheet.

Reference no: EM131010857

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Prepare the cost of goods manufactured schedule

Reference no: EM131010857

Reference no: EM131010857

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