a. The Cost of Goods Manufactured Schedule for the month ended June 30, 2022 can be prepared as follows:
Cost of Goods Manufactured Schedule
Work in Process Beginning $5,000
Raw materials purchase 49,900
Direct labor 47,000
Manufacturing Overhead 19,900
Total costs incurred $121,800
Ending balance ($7,000)
Cost of goods manufactured $114,800
b. The presentation of the ending inventories on the June 30, 2022 balance sheet will be showed as follows:
Current Assets:
Inventory:
Raw materials $13,100
Work in process 7,000
Finished goods 8,000 $28,100
Data Analysis:
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 $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
Total manufacturing overhead $19,900
T-accounts:
Raw materials
Account Titles Debit Credit
Beginning $9,000
Purchases 54,000
Work in Process $49,900
Ending $13,100
Work in Process
Account Titles Debit Credit
Beginning $5,000
Raw materials 49,900
Direct labor 47,000
M/Overhead 19,900
Finished Goods $114,800
Ending balance $7,000
Finished Goods
Account Titles Debit Credit
Beginning balance $9,000
Work in Process 114,800
Cost of Goods Sold $115,800
Ending balance $8,000
Thus, the total cost of goods manufactured for the month ended June 30, 2022 is $114,800.
Related link for computing the cost of goods manufactured at brainly.com/question/14686513
