19 Question 6 Not complete Marked out of 4.00 Flag question 20 23 22 23 24 Schedule of Cost of Goods Manufactured and Sold At December 31,2016, the end of its fiscal year, Kelly Metal Products Corporation collected the following data for 2016 Materials inventory, January 1 $40,000 25 Materials inventory, December 31 27,500 26 Work in process inventory, January 1 42.500 27 Work in process inventory, December 31 56,250 28 29 Finished goods inventory, January 1 26,250 30 Finished goods inventory, December 31 22.500 31 Net delivered cost of materials purchased 262.500 32 Direct labor 168,750 33 Indirect material 16.250 Indirect labor 31,250 35 Factory supplies used 15,000 Factory depreciation 97,500 Factory repairs and maintenance 35,000 78,750 Seling expenses (total) Non-factory administrative expenses (total) 71,250 Prepare a schedule of cost of goods manufactured and sold for Kelly Metal Products Corporation for the year ended December 31,2016, assuming that there were no other manufacturing overhead items than those listed above. Do not use negative signs with any of your answers Kelly Metal Products Corporation Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31,2016 Direct material: Beginning materials inventory Cost of material available 19 20 Less 23 Total materials used 22 Less 23 Direct materials used 24 Direct labor 25 Manufacturing overhead 26 Indirect material 27 Indirect labor i 29 Factory supplies used 30 Factory depreciation Factory repairs and maintenance 32 Total manufacturing overhead Total manufacturing costs for the year Add 35 Total cost of work in process during the year Less Cost of goods manufactured Add: Cost of goods available for sale Less Cost of goods sold $ 0 0 0 = 0 $ 0 0 0 0 0 0 0 0 0 D D S 0