Exercise 14-16

An 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.

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