E1-16 – Prepare a cost of goods manufactured schedule, and present the ending inventories of the balance sheet
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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 |
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.
(b) Show the presentation of the ending inventories on the June 30, 2014, balance sheet.
- 7 years ago
E1-16 – Prepare a cost of goods manufactured schedule, and present the ending inventories of the balance sheet
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- e1-16_roberts_company.xls
An analysis of the accounts of Roberts Company reveals the following manufacturing
NOT RATED8 years agoAn analysis of the accounts of Roberts Company reveals the following manufacturing
NOT RATED8 years ago