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Exercise 1-16 (Video) An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended June 30, 2020. Inventory
Exercise 1-16 (Video) An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended June 30, 2020. Inventory Ending Raw materials Work in process Finished goods Beginning $9,820 6,960 9,640 $17,870 7,420 6,190 Costs incurred: raw materials purchases $55,890, direct labor $48,190, manufacturing overhead $22,780. The specific overhead costs were: indirect labor $6,610, factory insurance $4,370, machinery depreciation $4,120, machinery repairs $2,230, factory utilities $3,790, and miscellaneous factory costs $1,660. 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 For the Month Ended June 30, 2020 Raw Materials Inventory, June 1 $ 6,960 Direct Materials $ $
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