ALT-COGM-TACCOUNTS THE FLOW OF COSTS COST OF GOODS SOLD FACTORY OVERHEAD 40,000 0 /12 Notes: BB.beginning balance of account. EB-ending balance of account. RAW MATERIALS INV KRAMER MANUFACTURING COST OF GOODS MANUFACTURED SCHEDULE FOR YEAR ENDED 12/31/2020 Note: contadit pray calls WORK IN PROCESS INV Beginning Work in Process Inventory Direct Materials: Beginning Materials Inventory 1/1/2020 80.000 Materials Purchases 120,000 Cost of Materials Available 200.000 Less Materials Inventory 12/31/2020 60,000 Direct Materials Used 140,000 Direct Labor Cost 125,000 FINISHED GOODS INV Factory Overhead: Indirect Labor Cost 30,000 COGM Depreciation on Factory Equipment 15,000 EB Factory Supplies and Utility Costs 18.000 Total Factory Overhead 63,000 Total Manufacturing Costs incurred Total Manufacturing Costs Less Work in Process Inventory 12/31/2020 Cost of Goods Manufactured 400,000 Sales Beginning Finished Goods Cost of Goods Manufactured Cost of Finished Goods Available for Sale Minus Ending Finished Goods Inventory Cost of goods Sold Gross Profit 24,000 334,000 358,000 34,000 324,000 76,000