E1-16 An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended June 30, 2014.
|Work in process||5,000||7,000|
|Raw materials purchases||$54,000|
The specific overhead costs were:
|Indirect labor||$5,500||Machinery repairs||1,800|
|Factory insurance||4,000||Factory utilities||3,100|
|Machinery depreciation||4,000||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, 2014.
(b)Show the presentation of the ending inventories on the June 30, 2014, balance sheet.