Exercise 14-15 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.	12,500
Purchases	55,000
Avail. for use	67,500
		DM used	49,000
End. Inv.	18,500

Work in Process Inventory
Begin. Inv.	17,400
DM used	49,000
Direct labor	31,700
Overhead	61,000
Avail. for mfg.	159,100
		Cost of goods mfg	146,300
End. Inv.	12,800

Finished Goods Inventory
Begin. Inv.	21,400
Cost of goods mfg	146,300
Avail. for sale	167,700
		Cost of Goods Sold	147,300
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.

Part 1

Beck Manufacturing

Schedule of cost of goods manufactured

For year ended Dec 31, 2017

?	?
?	?
?	?
Total manufacturing costs	?
?	?
Total cost of work in progress	?
?	?
Cost of goods manufactured	$

Part 2

Beck manufacturing

Partial income statement

For year ended Dec 31, 2017

Cost of goods sold	?
?	?
?	?
Cost of goods for sale	?
?	?
Cost of goods sold	?