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 Work in process (1/1) Direct materials Raw materials inventory (1/1) Add: Raw materials purchases 50,420 165,710 Total raw materials 216,130 available for use Less: Raw materials inventory [12/31) 30,350 Direct materials used $189,120 Direct labor Manufacturing overhead Indirect labor 18,790 Factory depreciation 39.270 Factory utilities 71220 Total overhead 129.280 Total manufacturing costs Total cost of workin process Less Work in process (12/31) Cost of goods manufactured eTextbook and Mats $216,130 90.580 $545.060