Prepare the cost of goods manufactured schedule for the month ended June 30, 2020.
Prepare the cost of goods manufactured schedule for the month ended June 30, 2020.
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 22E: Ellerson Company provided the following information for the last calendar year: During the year,...
Related questions
Question
Current Attempt in Progress
An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended June 30, 2020.
Costs incurred: raw materials purchases $55,260, direct labor $48,920, manufacturingoverhead $23,050. The specific overhead costs were: indirect labor $6,340, factory insurance $4,510, machinery depreciation $4,900, machinery repairs $1,930, factory utilities $3,610, and miscellaneous factory costs $1,760. Assume that all raw materials used were direct materials.
(a) Prepare the cost of goods manufactured schedule for the month ended June 30, 2020.
Inventory
|
Beginning
|
Ending
|
||
Raw materials | $9,110 | $14,750 | ||
Work in process | 6,800 | 8,470 | ||
Finished goods | 9,350 | 6,700 |
Costs incurred: raw materials purchases $55,260, direct labor $48,920, manufacturing
(a) Prepare the cost of goods manufactured schedule for the month ended June 30, 2020.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning