Beck Manufacturing reports the following information in T-accounts for the current year. Raw Materials Inventory Credit Debit Beginning Purchases Available for use 11,600 59,000 70,600 DM used 52,500 150,200 Ending 18,100 Work in Process Inventory Debit Credit Beginning 14,200 DM used 52,500 Direct labor 31,700 Overhead 64,500 162,900 Cost of goods manufactured Ending 12,700 Finished Goods Inventory Debit Credit Beginning 19,600 Cost of goods manufactured 150,200 Available for sale 169,800 Cost of goods sold Ending 18,100 151,700 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 Compute cost of goods sold for the year. BECK MANUFACTURING Partial Income Statement For Year Ended December 31 Cost of goods sold Sales Add: Cost of goods manufactured Goods available for sale Less: Merchandise inventory, ending Cost of goods sold 150,200 150,200 151,700 $ (1,500) Required 1 Required 2 Prepare the schedule of cost of goods manufactured for the year. Beck Manufacturing Schedule of Cost of Goods Manufactured For Year Ended December 31 Direct materials: Direct labor $ 31,700 59,000 90,700 11,600 Raw materials available for use Add: Raw materials inventory, beginning Direct materials used $ 79,100 18,100 Raw materials inventory, ending Factory overhead: Total manufacturing costs Add: Work in process inventory, beginning Total cost of work in process Less: Work in process inventory, ending Cost of goods manufactured 97,200 14,200 111,400 12,700 $ 98,700