An analysis of the accounts of Roberts Company
reveals the following manufacturing cost data for the month ended June 30,
2014.
E1-16 – Prepare a cost of goods manufactured schedule, and present the ending inventories of the balance sheet
E1-16 An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended June 30, 2014.
Costs incurred:
The specific overhead costs were:
Assume that all raw materials used were direct
materials.
Instructions:
E1-16 – Prepare a cost of goods manufactured schedule, and present the ending inventories of the balance sheet
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
|
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.
TUORIAL PREVIEW
(b) Show the presentation of the ending inventories on the June 30, 2014, balance sheet.
TUORIAL PREVIEW
Work in process
inventory, June 1
|
$5,000
|
||
Direct materials
|
|||
Raw materials
inventory, June 1
|
$9,000
|
||
Raw material purchases
|
54,000
|
File name: E1-16 Roberts Company.xls File type: . .xlx PRICE:$7
