Cost of Goods Manufactured and Sold Anglin Company, a manufacturing firm, has supplied the following information from its accounting records for the last calendar year: Direct labor cost Purchases of direct materials $497,770 375,600 Freight-in on materials. 7,570 Factory supplies used 18,120 Factory utilities 54,610 Commissions paid 78,260 Factory supervision and indirect labor 165,600 Advertising 145,470 Materials handling 16,700 Work-in-process inventory, January 1 202,520 Work-in-process inventory, December 31 117,250 Direct materials inventory, January 1 36,840 Direct materials inventory, December 31 37,120 Finished goods inventory, January 1 60,490 Work-in-process inventory, January 1 202,520 Work-in-process inventory, December 31 117,250 Direct materials inventory, January 1 36,840 Direct materials inventory, December 31 37,120 Finished goods inventory, January 1 60,490 Finished goods inventory, December 31 61,310 Required: 1. Prepare a cost of goods manufactured statement. Anglin Company Statement of Cost of Goods Manufactured For the Year Ended December 31 Direct materials: Beginning inventory Add: Purchases Add: Beginning inventory X Materials available Less: Ending inventory Direct materials used in production Direct labor Manufacturing overhead: Direct materials: Beginning inventory Add: Purchases Add: Beginning inventory X Materials available Less: Ending inventory Direct materials used in production Direct labor Manufacturing overhead: Beginning inventory Direct labor X X Beginning work in process Ending work in process Total overhead costs Total manufacturing costs added Add: Beginning inventory X Less: Ending work in process Cost of goods manufactured X X 0000 2. Prepare a cost of goods sold statement. Anglin Company Statement of Cost of Goods Sold For the Year Ended December 31 Beginning finished goods inventory Add: Cost of goods manufactured Cost of goods available for sale Less: Ending finished goods inventory Cost of goods sold X X