Exercise 15-16

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		$9,820		$17,870
Work in process		6,960		7,420
Finished goods		9,640		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, 2017.

ROBERTS COMPANY Cost of Goods Manufactured Schedule

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

ROBERTS COMPANY (Partial) Balance Sheet