An incomplete cost of goods manufactured schedule is presented below. Complete the cost of goods manufactured schedule for Hobbit Company. HOBBIT COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2017 $215,960 Work in process (1/1) Direct materials Raw materials inventory (1/1) Add: Raw materials purchases 163,890 Total raw materials available for use 22,350 Less: Raw materials inventory (12/31) Direct materials used $188,340 Direct labor Manufacturing overhead Indirect labor Factory depreciation Factory utilities Total overhead 18,220 39,150 76,620 133,990 Total manufacturing costs Total manufacturing costs Work in process (1/1) Direct materials $215,960 Raw materials inventory (1/1) Add: Raw materials purchases 163,890 X Total raw materials available for use Less: Raw materials inventory (12/31) Direct materials used 22,350 $188,340 Direct labor 18,220 Manufacturing overhead Indirect labor Factory depreciation Factory utilities Total overhead 39,150 76,620 133,990 Total manufacturing costs Total cost of work in process Less: Work in process (12/31) Cost of goods manufactured 87,360 $546,180 CHL f ind latch TALE herrian On Chart