Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Exercise 14-15 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 14-15 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. 52,500 Raw Materials Inventory Begin. Inv. 10,600 Purchases 49,000 Avail. for use 59,600 DM used End. Inv. 7,100 Work in Process Inventory Begin. Inv. 17,400 DM used 52,500 Direct labor 33,500 Overhead 59,000 Manuf. costs 162,400 Cost of goods manuf. End. Inv. 14,300 Finished Goods Inventory Begin. Inv. 16,900 Cost of goods manuf. 148, 100 Avail. for sale 165,000 Cost of Goods Sold End. Inv. 20,400 148, 100 144,600 Required: 1. Prepare the schedule of cost of goods manufactured for the year. 2. Compute cost of goods sold for the year. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Cost of Goods Sold 144, 600 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. Complete this question by entering your answers in the tabs below. 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, 2019 Total manufacturing costs 0 Total cost of work in process 0 Cost of goods manufactured $ 0 Cost of Goods Sold 144,600 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute cost of goods sold for the year. BECK MANUFACTURING Partial Income Statement For Year Ended December 31, 2019 Cost of goods sold Goods available for sale 0 Cost of goods sold $ 0
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started