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

cost of goods manufactured schedule

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.