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pav-90 [236]
3 years ago
9

An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended June 30, 2022.

Business
1 answer:
dmitriy555 [2]3 years ago
4 0

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

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It should be noted that the three range of the aggregate supply curve will be the Keynesian, intermediate, and the Classical range.

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Mullineaux Corporation has a target capital structure of 70 percent common stock and 30 percent debt. Its cost of equity is 16 p
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Q1. Big Money Monster is a business school. The school bases its budgets on two measures of activity: number of students and num
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Answer:

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The spending variance for course supplies is:

$50 Unfavorable.

Explanation:

a) Data and Calculations:

                                       Fixed cost   Variable cost   Variable cost    Total

                                       per month    per student     per course

Faculty wages                   $4,000             $0                   $20

Course supplies                $1,000             $10                  $50

Administrative expenses $2,000            $20                  $30

Budgeted number of students = 300

Budgeted number of courses = 15

Actual number of students = 280

Actual number of courses = 18

Actual Faculty wages = $4,200

Actual Course supplies = $4,800

Budgeted Costs:

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                                       per month    per student     per course

Faculty wages                   $4,000             $0                   $20          $4,300

Course supplies                $1,000             $10                  $50            4,750

Administrative expenses $2,000            $20                  $30            8,450

Budgeted costs:

Faculty wages = $4,000 + $0 + $20 * 15 = $4,300

Course supplies = $1,000 + $10 * 300 + $50 * 15 = $4,750

Administrative expenses = $2,000 + $20 * 300 + $30 * 15 = $8,450

Budgeted Cost of Course Supplies = $4,750

Actual Cost of Course Supplies =         4,800

Spending variance for Course Supplies = 50 Unfavorable

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