Beck Manufacturing reports the following information in T-accounts for the current year. Raw Materials Inventory 10,300 59,000 69,300 Beginning Purchases Available for use Ending Ending Debit Beginning Direct materials used Direct labor Overhead Debit Ending Debit Beginning Cost of goods manufactured Available for sale 22,300 Work in Process Inventory 16,600 47,000 29,900 58,000 151,500 18,400 138,600 157,000 Direct materials used 12,900 Finished Goods Inventory 19,500 Credit Credit Cost of goods manufactured Credit 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. 47,000 138,600 137,500

Beck Manufacturing reports the following information in T-accounts for the current year. Raw Materials Inventory 10,300 59,000 69,300 Beginning Purchases Available for use Ending Ending Debit Beginning Direct materials used Direct labor Overhead Debit Ending Debit Beginning Cost of goods manufactured Available for sale 22,300 Work in Process Inventory 16,600 47,000 29,900 58,000 151,500 18,400 138,600 157,000 Direct materials used 12,900 Finished Goods Inventory 19,500 Credit Credit Cost of goods manufactured Credit 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. 47,000 138,600 137,500

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 27E: Selected information concerning the operations of a company for the year ended December 31 is as...

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