Complete the cost of goods manufactured schedule for Hobbit Company. HOBBIT COMPANY Cost of Goods Manufactured Schedule Work in process (1/1) Direct materials Raw materials inventory (1/1) Add: Raw materials purchases Total raw materials available for use Less: Raw materials inventory 165,650 $213,100 Less: Raw materials inventory (12/31) Direct materials used Direct labor Manufacturing overhead Indirect labor Factory depreciation Factory utilities Total overhead Total manufacturing costs Total cost of work in process 26,990 $189,070 27,550 37,060 71,560 136,170 Total manufacturing costs Total cost of work in process Less: Work in process (12/31) Cost of goods manufactured 88,960 $547,060