Beck Manufacturing reports the information below for 2015. Using this information: 1. Prepare the schedule of cost
Question:
1. Prepare the schedule of cost of goods manufactured for the year.
2. Compute cost of goods sold for the year.
Transcribed Image Text:
Raw Materials Inventory Work in Process Inventory Finished Goods Inventory Begin. Inv. 10,000 Begin. Inv Begin. Inv.14,000 Materials 46,500 Direct labor 27,500 Overhead Avail for mfg. 143,000 16,000 Purchases 45,000 Avail for Use 55,000 131,000 147,000 55,000 Cost of goods Avail for sale Matis used 46,500 Cost of goods mfg 131,000 Cost of goods sold 129,000 End. Inv 8,500 End. Inv. 12,000 End. Inv. 18,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 77% (9 reviews)
Beck Manufacturing Schedule of Cost of Goods Manufactured For Yea...View the full answer
Answered By
Diksha Bhasin
I have been taking online teaching classes from past 5 years, i.e.2013-2019 for students from classes 1st-10th. I also take online and home tuitions for classes 11th and 12th for subjects – Business Studies and Economics from past 3 years, i.e. from 2016-2019. I am eligible for tutoring Commerce graduates and post graduates. I am a responsible for staying in contact with my students and maintaining a high passing rate.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Fundamental Accounting Principles
ISBN: 978-0077862275
22nd edition
Authors: John Wild, Ken Shaw, Barbara Chiappetta
Question Posted:
Students also viewed these Managerial Accounting questions
-
Of all the times this hard drive could crash, it had to be now, Linda cried. How can I finish the June financial reports without all the information? I knew I should have backed up the disk last...
-
Daniels Consulting is going to manufacture billing software. During its first month of manufacturing, Daniels incurred the following manufacturing costs: Inventories: Beginning: Ending: Raw Materials...
-
Prepare the 2015 schedule of cost of goods manufactured for Barton Company using the following information. Direct materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $190,500...
-
Express the given quantity in terms of sin x and cos x. sin 2 X
-
Why would a firm that incurs losses choose to produce rather than shut down?
-
Cholowsky Camping Products sells its products either for cash or on notes receivable that earn interest. The business uses the direct write-off method to account for uncollectible accounts. Paul...
-
\(X\) is the number of bits in error in the next four bits transmitted. What is the expected value of the square of the number of bits in error? Now, \(h(X)=X^{2}\). Therefore, \[ \begin{aligned}...
-
Peabody Cruiselines is preparing its statement of cash flows [indirect method) for the year ended March 31, 2016. Consider the following items in preparing the company's statement of cash flows....
-
2) How much will you have accumulated, if you annually invest $3000 into an IRA at 12% interest compounded bi-annually for: a. 10 year b. 20 years c. 50 years d. How long will it take to earn your...
-
Table 4-3 contains sample data for parts and for vendors who supply those parts. In discussing these data with users, we find that part numbers (but not descriptions) uniquely identify parts and that...
-
Use the information in Exercise to prepare an income statement for Delray Mfg. (a manufacturer). Assume that its cost of goods manufactured is $534,390. In exercise Sales . . . . . . . . . . . . . ....
-
Listed here are the total costs associated with the 2015 production of 1,000 drum sets manufactured by TrueBeat. The drum sets sell for $500 each. Required 1. Classify each cost and its amount as (a)...
-
A first-year co-op student is trying to determine the amount of cash and cash equivalents that should be reported on a company's balance sheet. The following information was given to the student at...
-
Groups can utilize several options for making decisions. Discuss the advantages and disadvantages of voting, consensus, and authority rule decision making.
-
Why do most companies use an accrual basis? Explain please.
-
Data from the last nine decades for the broad U.S. equity market yield the following statistics: average excess return, 8.3%; standard deviation, 20.1%. what must have been the average coefficient of...
-
An exotic option allows the holder, at time T to receive (with no further pay- ment) either a vanilla call or a vanilla put, both of which have the same expiry T>T and strike price Q. i. Show that...
-
Public finance around the world Using examples from contemporary happenings in Ghanaian public finance. What are Specific suggestions aimed at enhancing the role government plays in the Ghanaian...
-
Jakob (1949) suggests the following correlation be used for square tubes in a liquid cross-flow situation: Water (k = 0.61 W/m K, Pr = 6) at 50C flows across a 1-cm square tube with a Reynolds...
-
Is that Yelp review real or fake? The article A Framework for Fake Review Detection in Online Consumer Electronics Retailers (Information Processing and Management 2019: 12341244) tested five...
-
A companys quick assets are $37,500, its current assets are $80,000, and its current liabilities are $50,000. Its acid-test ratio equals a. 1.600. b. 0.750. c. 0.625. d. 1.333. e. 0.469.
-
A company has cash sales of $75,000, credit sales of $320,000, sales returns and allowances of $13,700, and sales discounts of $6,000. Its net sales equal a. $395,000. b. $375,300. c. $300,300. d....
-
A company purchased $4,500 of merchandise on May 1 with terms of 210, n30. On May 6, it returned $250 of that merchandise. On May 8, it paid the balance owed for merchandise, taking any discount it...
-
Write the feature of Super's Career Development Assessment and Counseling (C-DAC) system?
-
Describe one type of role-play technique you could use in a specific group setting. Explain who would benefit from this technique and why. Toseland, R. W., & Rivas, R. F. (2017). An introduction to...
-
Suppose that a manager is following a base stock policy where the optimal inventory position is 10. Assume the component lead time is 2 days. At the end of day 1, there is no ordered units yet to be...
Confessions Of A Funeral Director How Death Saved My Life 1st Edition - ISBN: 0062465252 - Free Book
Study smarter with the SolutionInn App