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Question: an analysis of the accounts of roberts company reveals the...
Question details
An analysis of the accounts of Roberts Company reveals the
following manufacturing cost data for the month ended June 30,
2020.
|
Inventory |
Beginning |
Ending |
||
| Raw materials | $ 9,660 | $ 13,620 | ||
| Work in process | 5,100 | 8,710 | ||
| Finished goods | 9,870 | 6,640 |
Costs incurred: raw materials purchases $ 57,250, direct labor $
51,410, manufacturing overhead $22,900. The specific overhead costs
were: indirect labor $ 6,160, factory insurance $ 4,610, machinery
depreciation $ 4,920, machinery repairs $ 2,230, factory utilities
$ 3,210, and miscellaneous factory costs $ 1,770. Assume that all
raw materials used were direct materials.
(a) Prepare the cost of goods manufactured
schedule for the month ended June 30, 2020.
(b) Show the presentation of the ending
inventories on the June 30, 2020, balance sheet.
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