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nadezda [96]
2 years ago
5

An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended June 30, 2017 I

nventory Beginning EndingRaw materials $9,180 $17,480Work in process 5,670 7,610Finished goods 9,300 6,430Costs incurred: raw materials purchases $55,020, direct labor $51,740, manufacturing overhead $23,300. The specific overhead costs were: indirect labor $6,510, factory insurance $4,700, machinery depreciation $4,380, machinery repairs $1,990, factory utilities $3,740, and miscellaneous factory costs $1,980. Assume that all raw materials used were direct materials.Prepare the cost of goods manufactured schedule for the month ended June 30, 2017
Business
1 answer:
SSSSS [86.1K]2 years ago
7 0

Answer:

<u>cost of goods manufactured schedule</u>

Raw Materials ($9,180 + $55,020 - $17,480)          $46,720

Direct Labor                                                               $51,740

Manufacturing overheads :

indirect labor                                                               $6,510

factory insurance                                                       $4,700

machinery depreciation                                            $4,380

machinery repairs                                                       $1,990

factory utilities                                                            $3,740

miscellaneous factory costs                                       $1,980

Add Opening Work In Process                                 $5,670

Less Closing Work In Process                                  ($7,610)

Cost of goods manufactured                                 $119,800

Explanation:

Cost of goods manufactured schedule shows a summary of results (cost) obtained  from manufacturing activity during the production period.

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A project to build a new bridge seems to be going very well since the project is well ahead of schedule and costs seem to be run
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Answer:

Schedule variance = $1,428,140

Schedule Performance Index (SPI) = 1.132

Cost Performance Index = 0.801

Explanation:

Planned Value = $1,414,000 + $10,494,000 + $8,494,000 * 53%

                        = $20,402,000 * 53%

                        = $10,813,060

Earned Value = $1,414,000 + $10,494,000 + $8,494,000 * 60%

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Schedule Variance = Earned value - Planned value

                                = $12,241,200 - $10,813,060

                                = $1,428,140

Schedule Performance Index (SPI)

                          = Earned value / Planned value

                          = $12,241,200 / $10,813,060

                          = 1.132

Actual Cost (AC)

                        = $1,294,000 + $8,994,000 + $4,994,000

                        = $15,282,000

Cost Performance Index (CPI)

                             = Earned value / Actual cost

                             = $12,241,200 / $15,282,000

                             = 0.801

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