An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended
June 30, 2017.
Inventories Beginning Ending
Raw materials $9,000 $13,100
Work in process 5,000 7,000
Finished goods 9,000 8,000
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 depreciation $4,000, machinery
repairs $1,800, factory utilities $3,100, 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, 2017.
(B) Show the presentation of the ending inventories on the June 30, 2017 balance sheet.
NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?" .
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.