Exercise 1 An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended June 30, 2014.
| Inventories |
Beginning |
Ending |
| Raw materials |
$9,740 |
$15,840 |
| Work in process |
5,780 |
9,030 |
| Finished goods |
9,740 |
6,480 |
Costs incurred: raw materials purchases $58,000, direct labor $49,940, manufacturing overhead $23,490. The specific overhead costs were: indirect labor $6,770, factory insurance $4,160, machinery depreciation $4,390, machinery repairs $2,540, factory utilities $3,690, miscellaneous factory costs $1,940. Assume that all raw materials used were direct materials.
Prepare the cost of goods manufactured schedule for the month ended June 30, 2014.