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Problem 2 (30 points) The following cost and inventory data were taken from the records of the Beca Company for the year 2021: Costs incurred:
Problem 2 (30 points) The following cost and inventory data were taken from the records of the Beca Company for the year 2021: Costs incurred: Depreciation, factory equipment Depreciation, office equipment Indirect materials (comes from raw materials) Maintenance, factory equipment Utilities, factory Sales commissions Indirect labor Rent, factory building Purchases of raw materials (net) Direct labor cost Advertising expense Sales Inventories: Raw Materials Work in Process Finished goods 30,000 7,000 6,200 20,000 8,000 30,000 54,500 70,000 124,000 86,000 90,000 615,000 January 1, 2021 December 31,2021 \begin{tabular}{r|r|} 10,200 & 11,500 \\ \hline 9,900 \end{tabular} 21,000 Required: (a) Show computation of direct materials used in production for 2021 (b) Show the schedule and calculation of the cost of goods manufactured for 2021. (c) Prepare a cost of goods sold statement/schedule for 2021. (d) Prepare an income statement for 2021
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