Question

Beck Manufacturing reports the following information in T-account form for 2019 Begin. Inv. Purchases Avail. for use 47,500 End. Inv. Raw Materials Inventory 11,800 49,500 61,300 DM used 13,800 Work in Process Inventory 14,200 47,500 33,100 61,000 155,800 Cost of goods manuf. 14,700 Begin. Inv. DM used Direct labor Overhead Manuf. costs End. Inv. 141,100 Begin. Inv. Cost of goods manuf. Avail. for sale Finished Goods Inventory 19,300 141, 100 160,400 Cost of Goods Sold 19,400 End. Inv. 141,000 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

Answer 1

BECK MANUFACTURING Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2019
Direct material used	$ 47,500
Direct labor	$ 33,100
Overhead	$ 61,000
Total manufacturing costs	$ 141,600
Add: Beginning Work in Process	$ 14,200
Total Cost of Work in Process	$ 155,800
Less: Ending Work in Process	($ 14,700)
Cost of Goods manufactured	$ 141,100

BECK MANUFACTURING Partial Income Statement For the Year Ended December 31, 2019
Cost of Goods Sold:
Cost of Goods manufactured	$ 141,100
Add: Beginning Finished goods inventory	$ 19,300
Goods available for sale	$ 160,400
Less: Ending Finished goods inventory	($ 19,400)
Cost of Goods Sold	$ 141,000