Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Prepare a cost schedule, and inventories on financial posit E19.16 (LO 3) An analysis of the accounts of Roberts Industries reveals the following manufacturing cost

image text in transcribed

image text in transcribed

Prepare a cost schedule, and inventories on financial posit E19.16 (LO 3) An analysis of the accounts of Roberts Industries reveals the following manufacturing cost data for the month ended June 30, 2020. Ending Beginning Inventory 13,100 Raw materials 9,000 5,000 7.000 Work in process 9,000 8.000 Finished goods UL CCOUS 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 depreci. ation 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. Instructions a. Prepare the cost of goods manufactured schedule for the month ended June 30, 2020. b. Show the presentation of the ending inventories on the June 30, 2020, statement of financial position

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

What is the difference between debt and intangible liabilities?

Answered: 1 week ago