E1-16 Analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended June 30, 2017. Inventory 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, factory insurance $4,000, machinery depreciation $4,000, machinery repairs $1,800 factory utilities $3,100, and miscellaneous factory costs $1,500. Assume that all raw materials used were direct materials. Prepare the cost of goods manufactured schedule for the month of June. Roberts Company Cost of Goods Manufactured Schedule For the Month Ended June 30, 2017 Beginning Work in Process Direct Materials Beg. DM Inventory Purchases Tot. Materials Available for Use Less: Ending DM Inventory Direct Materals Used Direct Labor Marutacturing overhead: go DOO A View Zoom Total Manufacturing Overhead Total Manufacturing Costs Midterm 1 Review Problems Work-Out Total cost of Work in Process Less: Ending Work in Process Cost of Goods Manufactured Ch. Saxon Manufacturing Company employs a job order cost accounting system and keeps 2. perpetual inventory records. The following transactions occurred in the first month of operations 1 Direct materials requisitioned during the month: Job 101 $25,000 Job 102 10,000 Job 103 23.000 $58.000 22 800 2 3 $ 4 % 5 & 7 6 co 8 Insert Table om Chart Text Slope CM $58.000 2. Direct labor incurred and charged to jobs during the month was: Job 101 Job 102 Job 103 $27,000 25.000 30.000 582.000 3. Manufacturing overhead was applied to jobs worked on using a predetermined overhead rate based on 80% of direct labor costs. 4. Actual manufacturing overhead costs incurred during the month amounted to $66,000. 5. Job 101 consisting of 800 units and Job 103 consisting of 200 units were completed during the month Instructions (a) Prepare journal entries to record the above transactions. (b) Answer the following questions: 1. How much manufacturing overhead was applied to Job 103 during the month? 2. Compute the unit cost of Jobs 101 and 103 3. What is the balance in Work In Process Inventory at the end of the month? 4. Determine if manufacturing overhead was under- or overapplied during the month. How much? On 000