Axteks Corporation has the following cost records for the year ended December 31, 2020: Indirect factory labour $5,360 Direct materials used 250,300 Work in process (1/1/2020) 31,800 Work in process (12/31/2020) 26,800 Finished goods (1/1/2020) 35,800 Finished goods (12/31/2020) 29,300 Factory utilities 41,300 Depreciation, factory equipment 34,400 Direct labour 301,700 Indirect materials 22,700 Factory manager's salary 63,200 Selling and administrative expenses 341,000 Net sales 1,236,000 Factory machinery rent 42,200 Prepare a cost of goods manufactured schedule for 2020. Axteks Corporation Cost of Goods Manufactured Year Ended December 31, 2020 Work in Process, January 1 Direct Materials Used Direct Labour Manufacturing Overhead Indirect Factory Labour 5360 Factory Utilities 41300 Depreciation, Factory Equipment 34400 Indirect Materials 22700 Factory Manager's Salary 63200 Factory Machinery Rent 42200 Total Manufacturing Overhead Total Manufacturing Cost Total Cost of Work in Process Less Work in Process, December 31 Cost of Goods Manufactured 31800 250300 $ 301700 209160 761160 792960 (26800) 766160