An
analysis of the accounts of Zuniga Manufacturing reveals the following
manufacturing cost data for the month ended June 30, 2012.
E19-16, Prepare a cost of goods manufactured schedule, and present the ending inventories of the balance sheet.
E19-16 An analysis of the accounts of Zuniga Manufacturing reveals the following manufacturing cost data for the month ended June 30, 2012.
Costs
incurred:
The specific overhead costs were:
Instructions:
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E19-16, Prepare a cost of goods manufactured schedule, and present the ending inventories of the balance sheet.
E19-16 An analysis of the accounts of Zuniga Manufacturing reveals the following manufacturing cost data for the month ended June 30, 2012.
|
Inventories:
|
Beginning:
|
Ending:
|
|
Raw
materials
|
$9,000
|
$13,100
|
|
Work in
process
|
5,000
|
7,000
|
|
Finished
goods
|
9,000
|
6,000
|
|
Raw
materials purchases
|
$54,000
|
|
Direct
labor
|
57,000
|
|
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, 2012.
(b) Show the presentation of the ending inventories on
the June 30, 2012, balance sheet.
TUTORIAL PREVIEW
(a) Prepare the cost of goods manufactured schedule for
the month ended June 30, 2012.
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ZUNIGA MANUFACTURING
|
||
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Cost of Goods Manufactured Schedule
|
||
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For the Month Ended June 30, 2012
|
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|
Work in
process inventory, June 1
|
$5,000
|
|
|
Direct
materials
|
||
|
Materials
Inventory, June 1
|
$9,000
|
|
|
Materials
Purchased
|
54,000
|
|
|
Materials
available for use
|
63,000
|
|
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