An analysis of the accounts of Kananaskis Manufacturing reveals the following manufacturing cost data for the month ended June 30, 2022:

Costs incurred: Raw materials purchases $64,000, direct labour $57,000, manufacturing overhead $22,900. The specific overhead costs were as follows: indirect labour $7,500, factory insurance $4,000, machinery depreciation $5,000, machinery repairs $1,800, factory utilities $3,100, 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, 2022.

b. Show the presentation of the ending inventories on the June 30, 2022, balance sheet.

Transcribed Image Text:

Inventories Raw materials Work in process Finished goods Beginning $10,000 5,000 10,000 Ending $13,100 13,000 6,000