Reference no: EM133123144
Question - An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended June 30, 2022.
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Inventories
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Beginning
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Ending
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Raw materials
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$9,000
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$13,100
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Work in process
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5,000
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7,000
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Finished goods
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9,000
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8,000
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Costs incurred: raw materials purchases $54,000, direct labor $47,000, manufacturing overhead $19,900. The specific overhead costs were: indirect labor $5,500, factory insurance, $4,000, machinery depreciation $4,000, machinery repairs $1,800, factory utilities $3,100, miscellaneous factory costs $1,500. Assume that all raw materials used were direct materials.
Required -
(a) Prepare the cost of goods manufactured schedule for the month ended June 30, 2022.
(b) Show the presentation of the ending inventories on the June 30, 2022 balance sheet.
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