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Beck Manufacturing reports the following information in T-accounts for the current year. Raw Materials Inventory Debit Credit Beginning 12,800 Purchases Available for use Ending
Beck Manufacturing reports the following information in T-accounts for the current year. Raw Materials Inventory Debit Credit Beginning 12,800 Purchases Available for use Ending 56,000 68,800 Direct materials used 47,000 21,800 Work in Process Inventory Debit Credit Beginning 16,400 Direct materials used 47,000 Direct labor 33,100 Overhead 60,000 156,500 Cost of goods manufactured 142,900 Ending 13,600 Finished Goods Inventory Debit Credit Beginning 17,500 Cost of goods manufactured 142,900 Available for sale 160,400 Cost of goods sold 142,200 Ending 18,200 1. Prepare the schedule of cost of goods manufactured for the year. 2. Compute cost of goods sold for the year. Required 1 Required 2 Prepare the schedule of cost of goods manufactured for the year. Direct materials: Direct labor Beck Manufacturing Schedule of Cost of Goods Manufactured For Year Ended December 31 33,100 Raw materials available for use 33,100 Add: Raw materials inventory, beginning 12,800 Direct materials used $ 20,300 Raw materials inventory, ending 21,800 Factory overhead: Total manufacturing costs 42,100 Total cost of work in process 42,100 Cost of goods manufactured $ 42,100 Cost of goods sold BECK MANUFACTURING Partial Income Statement For Year Ended December 31 Goods available for sale Cost of goods sold 0 $ 0
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