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Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1. Inventory Classification January 1,

Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1.

Inventory Classification January 1, 20x1 December 31, 20x1
Raw material $ 50,000 $ 70,000
Work in process 120,000 115,000
Finished goods 150,000 165,000

During 20x1, the company purchased $250,000 of raw material and spent $400,000 on direct labor. Manufacturing overhead costs were as follows:

Indirect material $ 8,000
Indirect labor 24,000
Depreciation on plant and equipment 100,000
Utilities 24,000
Other 30,000

Sales revenue was $1,111,000 for the year. Selling and administrative expenses for the year amounted to $110,000. The firms tax rate is 40 percent.

Required:

1. Prepare a schedule of cost of goods manufactured.

ALEXANDRIA ALUMINUM COMPANY
Schedule of Cost of Goods Manufactured
For the Year Ended December 31, 20x1
Direct material:
Manufacturing overhead:
Total manufacturing overhead 0
Total manufacturing costs $0
Subtotal
Cost of goods manufactured

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