Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended June 30, 2020. Inventory Raw materials Work

An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended June 30, 2020. Inventory Raw materials Work in process Finished goods Ending $9,180 $17,480 Beginning 5,670 9,300 7,610 6,430 Costs incurred: raw materials purchases $57,050, direct labor $51,080, manufacturing overhead $23,010. The specific overhead costs were: indirect labor $5,790, factory insurance $4,900, machinery depreciation $4,640, machinery repairs $2,290, factory utilities $3,450, and miscellaneous factory costs $1,940. Assume that all raw materials used were direct materials. (a) Prepare the cost of goods manufactured schedule for the month ended June 30, 2020. ROBERTS COMPANY Cost of Goods Manufactured Schedule $
image text in transcribed
image text in transcribed
image text in transcribed
(b) Show the presentation of the ending inventories on the June 30,2020 , balance sheet. ROBERTS COMPANY Cost of Goods Manufactured Schedule For the Month Ended June 30, 2020 Workin Process Inventory. June 1 $ Direct Materials Raw Materials Imentory, June 1 Costs incurred: raw materials purchases $57,050, direct labor $51,080, manufacturing overhead $23,010. The specific overhead costs were: indirect labor $5,790, factory insurance $4,900, machinery depreciation $4,640, machinery repairs $2,290, factory utilities $3,450, and miscellaneous factory costs $1,940. Assume that all raw materials used were direct materials. (a) Prepare the cost of goods manufactured schedule for the month ended June 30, 2020

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image
Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting For Financial Instruments

Authors: Cormac Butler

1st Edition

0470699809, 978-0470699805

More Books

Students explore these related Accounting questions