Beck Manufacturing reports the information below for 2017.
Raw Materials Inventory
Begin. Inv. 11,200
Purchases 53,000
Avail. for use 64,200
DM used 52,500
End. Inv. 11,700
Work in Process Inventory
Begin. Inv. 14,800
DM used 52,500
Direct labor 30,500
Overhead 57,500
Avail. for mfg. 155,300
Cost of goods mfg 141,500
End. Inv. 13,800
Finished Goods Inventory
Begin. Inv. 19,000
Cost of goods mfg 141,500
Avail. for sale 160,500
Cost of Goods Sold 141,800
End. Inv. 18,700
Required:
1. Prepare the schedule of cost of goods manufactured for the year.
2. Compute cost of goods sold for the year.