File Home Insert Draw Page Layout Formulas Data Review View Help Quickilooks PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View Enable Editing HiXf 4 A CDE G IJKLMN 1 E1-16 Prepare a cost of goods manufactured schedule and present the ending inventories on the balance sheet 2 An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended 3 June 30, 2017 4 Inventories Beginning Ending 5 Raw materials $9,000 $13,100 Work in process 5,000 7,000 7 Finished goods 9,000 8,000 8 Costs incurredraw materials purchases $54,000, direct labor $47,000, manufacturing overhead $19,900. The specific 9 overhead costs were: indirect labor $5,500, factory insurance, $4,000, machinery depreciation $4,000, machinery 10 repairs $1,800, factory utilities $3,100, miscellaneous factory costs $1,500. Assume that all raw materials used were 11 direct materials. 13 Instructions 14 (a) Prepare the cost of goods manufactured schedule for the month ended June 30, 2017 15 (b) Show the presentation of the ending inventories on the June 30, 2017 balance sheet. 16 NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?". 19 (a) Prepare the cost of goods manufactured schedule for the month ended June 30, 2017 ROBERTS COMPANY Cost of Goods Manufactured Schedule For the Month Ended June 30 2017 Work in process inventory, June 1 Direct materials Raw materials inventory, June 1 E14 E1-12 E1-16 P1.44 P1-5A CD1 Value Value O Type here to search Lapelignment Chor() - Protected View - EX File Home insert Draw P age Layout Formulas Data Review View Help Quickbooks PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit it's safer to stay in Protected View O Enable Editing C D E F G H Prepare the cost of goods manufactured schedule for the month ended June 30, 2017 I J 19 (a) K L M N Value Value Value ROBERTS COMPANY Cost of Goods Manufactured Schedule For the Month Ended June 30, 2017 Work in process inventory, June 1 Direct materials Raw materials inventory, June 1 Raw materials purchases Total raw materials available for use Less: Raw materials inventory, June 30 Direct materials used Direct labor Manufacturing overhead Indirect labor Value Factory insurance Value Machinery depreciation Value Factory utilities Value Machinery repairs Value Miscellaneous factory costs Value Total manufacturing overhead Total manufacturing costs Total cost of work in process Less: Work in process, June 30 Cost of goods manufactured E14 E1-12 E1-16 PI-A P1-5A C01 ? Value 7 1 O Type here to search File Home Insert Draw Page Layout Formulas Data Review View Help QuickBooks PROTECTED VIEW Be carefulfiles from the Internet can contain viruses. Unless you need to edit it's safer to stay in Protected View Enable Editing A E F G H I J K L M B C D Total manufacturing costs Total cost of work in process Less: Work in process, June 30 Cost of goods manufactured ? Value 46 (b) Show the presentation of the ending inventories on the June 30, 2017 balance sheet. ROBERTS COMPANY (Partial) Balance Sheet June 30, 2017 Current assets Inventories Finished goods Work in process Raw materials Value Value Value 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. 62 63 E1-4 E1-12 E1-16 P14 P1-5A CD1 t Type here to search e w e
