Question

Beck Manufacturing reports the following information in T-account form for 2019. Begin. Inv. Purchases Avail. for use 51,500 End. Inv. Raw Materials Inventory 10,900 45,500 56,400 DM used 4,900 Work in Process Inventory 17,200 51,500 28,300 66,000 163,000 Cost of goods manuf. 14,300 Begin. Inv. DM used Direct labor Overhead Manuf. costs 148,700 End. Inv. Begin. Inv. Cost of goods manuf. Avail. for sale Finished Goods Inventory 17,200 148,700 165,900 Cost of Goods Sold 19,300 146,600 End. Inv.

Answer 1

Answer

• Question #1

--Requirement 1

Beck manufacturing
Schedule of cost of goods manufactured
Direct material	$51,500
Direct labor	$28,300
Overhead	$66,000
Total manufacturing costs	$145,800
Add: Beginning WIP	$17,200
Total cost of WIP	$163,000
Less: Ending WIP	$14,300
Cost of Goods manufactured	$148,700

--Requirement 2

Cost of Goods Sold:
Cost of Goods manufactured	$148,700
Add: Beginning finished goods inventory	$17,200
Goods available for sale	$165,900
Less: Ending finished goods inventory	$19,300
Cost of Goods Sold	$146,600

• Question 2

Music World Retail
Cost of Goods Sold:
Beginning Inventory	$135,000
Add: Cost of Purchase	$340,000
Goods available for sale	$475,000
Less: Ending Inventory	$190,000
Cost of Goods Sold	$285,000

Wave Board Mfg.
Cost of Goods Sold:
Beginning finished goods inventory	$230,000
Add: Cost of Goods manufactured	$571,000
Goods available for sale	$801,000
Less: Ending finished goods inventory	$220,000
Cost of Goods Sold	$581,000