Solution-Prepare the cost of goods manufactured schedule

Prepare the cost of goods manufactured schedule

Assignment Help Financial Accounting

Reference no: EM131231424

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: EM131231424

Questions Cloud

Whole life versus term insurance : How do whole life and term insurance differ from the perspective of insurance companies?- From the perspective of the policyholders?

How much energy will need to be gathered : The system is used to run an all-AC load that is run only at night. The charge controller efficiency is 96% and the inverter efficiency is 85%. How much energy will need to be gathered by the PV array if the load is 120 W running for 4 h per night..

Effect of practice on profession-what about engineering : When most people think of the effect of practice on profession, they may first think of law, medicine, or teaching. What about engineering? How much thought have you given to the way you practice engineering and its relationship to the quality of wor..

Risk of treasury bond funds : Support or refute the following statement: Investors can avoid all types of risk by purchasing a mutual fund that contains only Treasury bonds.

Prepare the cost of goods manufactured schedule : Prepare the cost of goods manufactured schedule for the month ended June 30, 2014. Show the presentation of the ending inventories on the June 30, 2014, balance sheet.

How much energy will need to be gathered : For the system in Problem 6.7, how many hours of sunlight are needed to ensure that the battery bank is at 100% charge at the end of the day assuming the same load?

Public funding of athletic facilities : Conduct online research to locate and identify one example of public funding of athletic facilities that has had a positive impact and one example that has had a negative impact. Explain what made one successful and one unsuccessful.

Describe the ideal mutual fund for investors : Describe the ideal mutual fund for investors who wish to generate tax-free income and also maintain a low degree of interest rate risk.

Facility renovations : You are the facility manager for a local city arena that hosts college games and other nonathletic events. Facility renovations are being considered. On the “Facility Renovations” page of your group wiki, answer the following: What are the costs asso..

User Account

All Pages

Prepare the cost of goods manufactured schedule

Reference no: EM131231424

Reference no: EM131231424

Questions Cloud

Reviews

Write a Review

Financial Accounting Questions & Answers

Financial statement analysis and preparation

Shareholder of a company

Financial and accounting principles

Prepare a statement of cash flow using the direct method

Financial accounting assignment

Prepare general journal entries for goela

Principles of financial accounting

Prepare general journal entries to record the transactions

Global reporting initiative

Explain the iasb conceptual frameworks

Determine the company''s financial statements

Computation of free cash flow

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT