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    Argosy University/ Phoniex University/
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Category > Accounting Posted 19 Aug 2017 My Price 12.00

Spivey Manufacturing

E1-16 An analysis of the accounts of Spivey Manufacturing reveals the following man- ufacturing cost data for the month ended June 30,   2011.

 

Inventories

Beginning

 

Ending

Raw materials

$9,000

 

$13,100

Work  in process

5,000

 

7,000

Finished goods

9,000

 

6,000

Costs incurred: Raw materials purchases $54,000, direct labor $57,000, manufacturing overhead $19,900. The specific overhead costs were: indirect labor $5,500, factory insur- ance $4,000, machinery depreciation $4,000, machinery repairs $1,800, factory utilities

$3,100, miscellaneous factory costs $1,500. Assume that all raw materials used were di- rect materials.

 

Instructions

(a)   Prepare the cost of goods manufactured schedule for the month ended June 30, 2011.

(b)   Show the presentation of the ending inventories on the June 30, 2011, balance sheet.

Answers

Maurice Tutor
(5)
Status NEW Posted 19 Aug 2017 07:08 PM My Price 12.00

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