Exercise 1-15 Schedule of cost of goods manufactured and cost of goods sold LO P1, P2

Beck Manufacturing reports the information below for 2017.

Raw Materials Inventory
Begin. Inv.	10,700
Purchases	58,000
Avail. for use	68,700
		DM used	47,500
End. Inv.	21,200

Work in Process Inventory
Begin. Inv.	16,000
DM used	47,500
Direct labor	34,700
Overhead	64,000
Avail. for mfg.	162,200
		Cost of goods mfg	147,900
End. Inv.	14,300

Finished Goods Inventory
Begin. Inv.	18,400
Cost of goods mfg	147,900
Avail. for sale	166,300
		Cost of Goods Sold	145,900
End. Inv.	20,400

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

Prepare the schedule of cost of goods manufactured for the year.

BECK MANUFACTURING
Schedule of Cost of Goods Manufactured
For Year Ended December 31, 2017
Total manufacturing costs
Total cost of work in process
Cost of goods manufactured

Compute cost of goods sold for the year.

BECK MANUFACTURING
Partial Income Statement
For Year Ended December 31, 2017
Cost of goods sold
Goods available for sale
Cost of goods sold