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 Total raw materials available for use Less: Raw materials inventory (12/31) 164,500 Direct materials used Direct labor Manufacturing overhead Indirect labor Factory depreciation Factory utilities Total overhead Total manufacturing costs Total cost of work in process 30,580 $186,060 19,810 37,840 68,470 126,120 Less: Work in process (12/31) Cost of goods manufactured Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT $214,690 90,080 $550,770