Exercise 14-15 (Algo) Schedule of cost of goods manufactured and cost of goods sold LO P2
Beck Manufacturing reports the following information in T-accounts for the current year.
Raw Materials Inventory
Debit
Credit
Beginning
20,400
Purchases
56,500
Available For use
66,900
Direct materials used
51,000
Ending
15,900
Work in Process Inventory
Debit
Credit
Beginning
15,400
Direct materials used
51,000
Direct labor
38,700
Overhead
57,000
154,100
Cost of goods manufactured
129,200
Ending
15,000
Finished Goods Inventory
Debit
Credit
Beginning
16,900
Cost of goods manufactured
139,100
Available for sale
156,000
Cost of goods sole
116,900
Ending
19,000
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.
Direct materials:
Beck Manufacturing
Schedule of Cost of Goods Manufactured
For Year Ended December 31
Raw materials available for use
Direct materials used
Factory overhead
Total manufacturing costs
Total cost of work in process
Cost of goods manufactured
