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Exercise 01-15 Schedule of cost of goods manufactured and cost of goods sold LO P1, P2 Beck Manufacturing reports the following information in T-account form

Exercise 01-15 Schedule of cost of goods manufactured and cost of goods sold LO P1, P2

Beck Manufacturing reports the following information in T-account form for 2019.

Raw Materials Inventory
Begin. Inv. 10,800
Purchases 56,500
Avail. for use 67,300
DM used 52,500
End. Inv. 14,800

Work in Process Inventory
Begin. Inv. 15,600
DM used 52,500
Direct labor 32,300
Overhead 63,000
Manuf. costs 163,400
Cost of goods manuf. 150,300
End. Inv. 13,100

Finished Goods Inventory
Begin. Inv. 17,500
Cost of goods manuf. 150,300
Avail. for sale 167,800
Cost of Goods Sold 149,000
End. Inv. 18,800

Required: 1. Prepare the schedule of cost of goods manufactured for the year. 2. Compute cost of goods sold for the year.

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