E1-16 Prepare a cost of goods manufactured schedule and present the ending inventories on the balance sheet

An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended

June 30, 2017.

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, factory insurance, $4,000, machinery depreciation $4,000, 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, 2017.

(b)

Show the presentation of the ending inventories on the June 30, 2017 balance sheet.

NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?" .

After you have completed E1-16, consider the additional question.
1.	Assume that the inventory balances changed as follows: beginning raw materials $12,000,
	ending work in process $6,750 and ending finished goods $10,000. Show the impact of these
	changes on the cost of goods manufactured schedule and balance sheet.