Exercise 14-15 Schedule of cost of goods manufactured and cost of goods sold LO P1, P2 Beck Manufacturing reports the following information in T-account
Exercise 14-15 Schedule of cost of goods manufactured and cost of goods sold LO P1, P2 Beck Manufacturing reports the following information in T-account form for 2019. Begin. Inv. Purchases Avail. for use End. Inv. Raw Materials Inventory 11,500. 54,500 66,000 DM used 51,000 15,000 Begin Inv. DM sed Direct labor Overhead Manuf. costs Mork in Process Inventory 14,400 51,000 27,700 61,000 154,100 Cost of goods manuf. 139,200 End. Inv. 14,900 Begin. Inv. Cost of goods manuf. Avail. for sale End. Inv. Required: Finished Goods Inventory 21,400 139,200 160,600 Cost of Goods Sold 141,300 19,300 1. Prepare the schedule of cost of goods manufactured for the year 2. Compute cost of goods sold for the year. 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 Prepare the schedule of cost of goods manufactured for the year. BECK MANUFACTURING Schedule of Cost of Goods Manufactured For Year Ended December 31, 2019 Total manufacturing costs Total cost of work in process Cost of goods manufactured $ 0 0 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 Compute cost of goods sold for the year. BECK MANUFACTURING Partial Income Statement For Year Ended December 31, 2019 Cost of goods sold Goods available for sale Cost of goods sold 6
Step by Step Solution
There are 3 Steps involved in it
Step: 1
To solve this problem we will complete two schedules based on the information provided in the Taccounts Step 1 Prepare the Schedule of Cost of Goods M...See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
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