CEPEDA MANUFACTURING COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2020 Work in process (1/1) $220,000 Direct materials Raw materials inventory, (1/1) $ 42100 Raw materials purchases 165,000 Total raw materials available for use 207100 Less: Raw materials inventory (12/31) 18,100 Direct materials used $189,000 Direct labour Manufacturing overhead Indirect labour 15,700 Factory depreciation 36,600 Factory utilities 68,900 Total manufacturing overhead 121,200 Total manufacturing costs Total cost of work in process Less: Work in process (12/31) 80,400 Cost of goods manufactured $550,300