Cost of Goods Manufactured Schedule For the Year Ended December 31, 2022 Work in process, January 1 Direct materials Raw materials inventory, January 1 $ Raw materials purchases Total raw materials available for use Less: Raw materials inventory, December 31 Direct materials used Direct labor Manufacturing overhead Indirect labor 136,000 19,500 $154,800 15,600 Factory depreciation 30,900 Factory utilities 58,600 Total manufacturing overhead 105,100 Total manufacturing costs Total cost of work in process Less: Work in process, December 31 Cost of goods manufactured $1 $4