CEPEDA MANUFACTURING COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2020 Work in process (1/1) $212,500 Direct materials Raw materials inventory, (1/1) Raw materials purchases Total raw materials available for use Less: Raw materials inventory (12/31) 166,000 17,800 Direct materials used Direct labour Manufacturing overhead $188,000 Indirect labour Factory depreciation Factory utilities Total manufacturing overhead 15,500 36,400 68,000 119,900 Total manufacturing costs Total cost of work in process Less: Work in process (12/31) Cost of goods manufactured 80,200 $550,500