Cost of Goods Manufactured and COGS Schedule Enter a formula or cell reference in every yellow cell. Tracey Company operates a job-order costing system and applies overhead cost to jobs on the basis of direct labor hours. The company has provided the following data for the year: $126,000 Estimated total manufacturing overhead Estimated total number of direct labor hours Actual total manufacturing overhead Actual total number of direct labor hours 4,200 DLH 123,000 4,000 DLH Purchases of raw materials (all direct) Direct labor $133,000 $80,000 Inventories: Raw Materials Work in Process Finished Goods Beginning $21,000 $44,000 $68,000 Ending $16,000 $40,000 $60,000