3. Dreams Manufacturing, Inc. provided the following information for the year: PurchasesRaw Materials $270,000 Plant Utilities and Insurance 202,500 Indirect Materials 35,250 Indirect Labor 14,250 Ending BalanceWork-in-Process Inventory 42,000 Ending BalanceRaw Materials Inventory 45,000 Direct Labor 352,500 Depreciation on Factory Plant and Equipment 18,000 Beginning BalanceWork-in-Process Inventory 18,000 Beginning BalanceRaw Materials Inventory 63,000

Required: Prepare a statement of the cost of goods manufactured using the following format (25 Points):

Schedule of Cost of Goods Manufactured

Beginning Work-in-Process Inventory
Direct Materials Used:
Beginning Raw Materials Inventory
Purchases of Raw Materials
Raw Materials Available for Use
Ending Raw Materials Inventory
Direct Materials Used
Direct Labor
Manufacturing Overhead:
Indirect Materials
Indirect Labor
DepreciationPlant and Equip.
Plant Utilities and Insurance
Total Manufacturing Overhead
Total Manufacturing Costs Incurred During the Year
Total Manufacturing Costs to Account For
Ending Work-in-Process Inventory
Cost of Goods Manufactured