Question

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

Answer 1

Robert company Cost of goods sold manufactured schedule for the month ended juhe 30,2017 parti cular Work in process inventary June1 5000 Direct material: Raw material inventory, June 1 9000 Raw material purchases 54.000 Tutal raw material available 63.000 for use Less: Raw Material inventory 113, 100 June 30 Direct material used 49.900 Direct Labour manufacturing over beada Indirect Labour 5, 500 facters Insurance 4000 Machinery Depreciation 4000 factory utilities 3,100 machinery repairs 1800 miscellaneous factory cost 1500 To tas manufacturing ablesbead 19.900 Jotal manufacturing cost 116800 Total cost of world in 121,800 process less: War in process June 36 7000 cost of goods manufactured [114,800 47000 Roberts company opartial) Balance sheet as on June 30 2017 Assets current Assets Inventories Finished goods 8000 W are in process 7000 Raw materials 13,100 28,100