Question: Inventory Raw materials Work in process Finished goods Beginning $9,830 6,360 9.170 Ending $14,550 7.220 6,830 Costs incurred: raw materials purchases $58,550, direct labor $50,090,

 Inventory Raw materials Work in process Finished goods Beginning $9,830 6,360
9.170 Ending $14,550 7.220 6,830 Costs incurred: raw materials purchases $58,550, direct
labor $50,090, manufacturing overhead $22,020. The specific overhead costs were: indirect labor

Inventory Raw materials Work in process Finished goods Beginning $9,830 6,360 9.170 Ending $14,550 7.220 6,830 Costs incurred: raw materials purchases $58,550, direct labor $50,090, manufacturing overhead $22,020. The specific overhead costs were: indirect labor $5,660, factory Insurance $4,300, machinery depreciation $4,130, machinery repairs $2,670, factory utilities $3,400, and miscellaneous factory costs $1,860. Assume that all raw materials used were direct materials. (a) Prepare the cost of goods manufactured schedule for the month ended June 30, 2020. ROBERTS COMPANY Cost of Goods Manufactured Schedule (b) Show the presentation of the ending inventories on the June 30, 2020, balance sheet. ROBERTS COMPANY (Partial) Balance Sheet

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!