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Direct materials Beck Manufacturing Schedule of Cost of Goods Manufactured For Year Ended December 31 Raw materials purchases Raw materials available for use Direct materials used

Direct materials Beck Manufacturing Schedule of Cost of Goods Manufactured For Year Ended December 31 Raw materials purchases Raw materials available for use Direct materials used

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Direct materials Beck Manufacturing Schedule of Cost of Goods Manufactured For Year Ended December 31 Raw materials purchases Raw materials available for use Direct materials used Factory overhead Total manufacturing costs Total cost of work in process Cost of goods manufactured Cost of goods sold BECK MANUFACTURING Partial Income Statement For Year Ended December 31 Goods available for sale Cost of goods sold 0 S S $ 0 0 0 0 0
Transcribed Image Text:Direct materials Beck Manufacturing Schedule of Cost of Goods Manufactured For Year Ended December 31 Raw materials purchases Raw materials available for use Direct materials used Factory overhead Total manufacturing costs Total cost of work in process Cost of goods manufactured Cost of goods sold BECK MANUFACTURING Partial Income Statement For Year Ended December 31 Goods available for sale Cost of goods sold 0 S S $ 0 0 0 0 0
Beck Manufacturing reports the following information in T-accounts for the current year. Raw Materials Inventory 10,700 57,500 68,200 Beginning Purchases Available for use Ending Debit Beginning Direct materials used i Direct labor Overhead Ending Debit Ending Debit: Beginning Cost of goods manufactured Available for sale 15,400 46,500 28,300 68,500 158,700 goods manufactured and cost of goods sold LO P2 21,700 Work in Process Inventory 21,700 145,500 167,200 18,000 Direct materials used 13,200 Finished Goods Inventory Credit Credit Cost of goods manufactured Creast Cost of goods sold 1. Prepare the schedule of cost of goods manufactured for the year. 2. Compute cost of goods sold for the year. 46,500 145,500 148,400
Transcribed Image Text:Beck Manufacturing reports the following information in T-accounts for the current year. Raw Materials Inventory 10,700 57,500 68,200 Beginning Purchases Available for use Ending Debit Beginning Direct materials used i Direct labor Overhead Ending Debit Ending Debit: Beginning Cost of goods manufactured Available for sale 15,400 46,500 28,300 68,500 158,700 goods manufactured and cost of goods sold LO P2 21,700 Work in Process Inventory 21,700 145,500 167,200 18,000 Direct materials used 13,200 Finished Goods Inventory Credit Credit Cost of goods manufactured Creast Cost of goods sold 1. Prepare the schedule of cost of goods manufactured for the year. 2. Compute cost of goods sold for the year. 46,500 145,500 148,400
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