Complete the cost of goods manufactured schedule for Hobbit Company. HOBBIT COMPANY Cost of Goods Manufactured Schedule Work in process (1/1) $220,220 Direct materials Raw materials inventory (1/1) Add: Raw materials purchases 164,190 Total raw materials available for use Less: Raw materials inventory (12/31) 30,540 Direct materials used $183,180 Direct labor Manufacturing overhead Indirect labor Factory depreciation Factory utilities 25,480 45,000 72,670 Total overhead 143,150 Total manufacturing costs Total cost of work in process Less: Work in process (12/31) 87,980 $544,910 Cost of goods manufactured Click if you would like to Show Work for this question: Modify Show Work