An incomplete cost of goods manufactured schedule is presented below.

Hobbit Company

Cost of goods manufactured Schedule

For the year ended December 31, 2017

work in process (1/1) $210,000

Direct Materials

Raw materials inventory (1/1) $ ?

Add: Raw material purchases 158,000

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Total raw materials available for use ?

Less: Raw materials inventory (12/31) 22,500

_________________

Direct materials used $180,000

Direct labor ?

Manufacturing overhead

Indirect labor 18,000

factory depreciation 36,000

Factory utilities 68,000

_____________

Total overhead 122,000

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Total manufacturing costs ?

______________

Total cost of work process ?

Less: Work in process (12/31) $81,000

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Cost of goods manufactured $ 540,000

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Instructions

Complete the cost of goods manufactured schedule for hobbit company