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Exercise 1-15 (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 Beginning Purchases Available for use Ending Debit Debit Beginning Cost of goods manufactured Available for sale Ending Required 1 Direct materials: Required 2 Finished Goods Inventory Direct materials used 12,600 50,000 62,600 1. Prepare the schedule of cost of goods manufactured for the year. 2. Compute cost of goods sold for the year. Raw materials available for use Factory overhead: Total manufacturing costs 11,600 Total cost of work in process 20,800 149,100 169,900 Cost of goods manufactured 18,600 Complete this question by entering your answers in the tabs below. Prepare the schedule of cost of goods manufactured for the year. Beck Manufacturing Schedule of Cost of Goods Manufactured For Year Ended December 31 Cost of goods sold Direct materials used Cost of goods sold Credit Credit Goods available for sale Compute cost of goods sold for the year. Required 1 BECK MANUFACTURING Partial Income Statement For Year Ended December 31 51,000 151,300 Beginning Direct materials used Direct labor Overhead Ending Required 2 > Debit Work in Process Inventory 17,200 51,000 32,100 61,500 161,800 12,700 Credit Cost of goods manufactured 149,100

Exercise 1-15 (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 Beginning Purchases Available for use Ending Debit Debit Beginning Cost of goods manufactured Available for sale Ending Required 1 Direct materials: Required 2 Finished Goods Inventory Direct materials used 12,600 50,000 62,600 1. Prepare the schedule of cost of goods manufactured for the year. 2. Compute cost of goods sold for the year. Raw materials available for use Factory overhead: Total manufacturing costs 11,600 Total cost of work in process 20,800 149,100 169,900 Cost of goods manufactured 18,600 Complete this question by entering your answers in the tabs below. Prepare the schedule of cost of goods manufactured for the year. Beck Manufacturing Schedule of Cost of Goods Manufactured For Year Ended December 31 Cost of goods sold Direct materials used Cost of goods sold Credit Credit Goods available for sale Compute cost of goods sold for the year. Required 1 BECK MANUFACTURING Partial Income Statement For Year Ended December 31 51,000 151,300 Beginning Direct materials used Direct labor Overhead Ending Required 2 > Debit Work in Process Inventory 17,200 51,000 32,100 61,500 161,800 12,700 Credit Cost of goods manufactured 149,100

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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Exercise 1-15 (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 Beginning Purchases Available for use Ending Ending Debit Beginning Cost of goods manufactured Available for sale Debit Required 1 Direct materials: Required 2 Finished Goods Inventory 20.800 149,100 169,900 Direct materials used 1. Prepare the schedule of cost of goods manufactured for the year. 2. Compute cost of goods sold for the year. 12,600 50,000 62,600 Factory overhead: Total manufacturing costs. 11,600 Raw materials available for use. Total cost of work in process Cost of goods manufactured 18,600 Prepare the schedule of cost of goods manufactured for the year. Beck Manufacturing Schedule of Cost of Goods Manufactured For Year Ended December 31 Cost of goods sold Complete this question by entering your answers in the tabs below. Direct materials used Cost of goods sold Cost of goods sold Credit Credit Goods available for sale Compute cost of goods sold for the year. < Required 1 BECK MANUFACTURING Partial Income Statement For Year Ended December 31 51,000 151,300 Beginning Direct materials used Direct labor Overhead Ending Required 2 > Debit Work in Process Inventory 17,200 51,000 32,100 61,500 161,800 12,700 Credit Cost of goods manufactured 149,100
Transcribed Image Text:Exercise 1-15 (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 Beginning Purchases Available for use Ending Ending Debit Beginning Cost of goods manufactured Available for sale Debit Required 1 Direct materials: Required 2 Finished Goods Inventory 20.800 149,100 169,900 Direct materials used 1. Prepare the schedule of cost of goods manufactured for the year. 2. Compute cost of goods sold for the year. 12,600 50,000 62,600 Factory overhead: Total manufacturing costs. 11,600 Raw materials available for use. Total cost of work in process Cost of goods manufactured 18,600 Prepare the schedule of cost of goods manufactured for the year. Beck Manufacturing Schedule of Cost of Goods Manufactured For Year Ended December 31 Cost of goods sold Complete this question by entering your answers in the tabs below. Direct materials used Cost of goods sold Cost of goods sold Credit Credit Goods available for sale Compute cost of goods sold for the year. < Required 1 BECK MANUFACTURING Partial Income Statement For Year Ended December 31 51,000 151,300 Beginning Direct materials used Direct labor Overhead Ending Required 2 > Debit Work in Process Inventory 17,200 51,000 32,100 61,500 161,800 12,700 Credit Cost of goods manufactured 149,100
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