An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended June 30, 2020. Inventory 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, and miscellaneous factory costs $1,500. Assume that all raw materials used were direct materials. (a) Prepare the cost of goods manufactured schedule for the month ended June 30, 2020.

Answer and Explanation:

The preparation of the cost of goods manufactured is presented below:

                                       Roberts Company

                               Cost of Goods Sold Statement

                          For the month ended June 30, 2020

Particulars                                                                             Amount

Beginning work-in-process inventory                                  $5,000

Manufacturing costs:

Direct materials:                                                  

Beginning inventory                                   $9,000

Purchases                                                    $54,000

Materials available                                      $63,000

Less:  Ending inventory                               -$13,100

Direct materials used                                                             $49,900

Direct labor                                                                              $47,000

Other manufacturing costs                                                    

Indirect labor                                                   $5,500

Factory insurance                                           $4,000

Machinery depreciation                           $4,000

Factory utilities                                            $3,100

Machinery repairs                                            $1,800

Miscellaneous factory Costs                           $1,500

Total other manufacturing cost                                              $19,900

Total manufacturing costs:                                                     $116,800

Total costs of work-in-process                                                $121.800               Less:  Ending work-in-process                                                 -$7,000

Cost of goods manufactured                                                  $114,800

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