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, 2020 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) Direct materials used Direct labor Manufacturing overhead Indirect labor Factory depreciation Factory utilities Total overhead Total manufacturing costs Total cost of work in process Less: Work in process (12/31) Cost of goods manufactured 158,000 22,500 $180,000 18,000 36,000 68,000 122,000 $210,000 81,000 $540,000 eTextbook and Media Save for Later Last saved 1 day ago. Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minutes. Attempts: 0 of 3 used Submit Answer