December 31, 2022 $ 268,800 Work in process (1/1) Direct materials Raw materials inventory (1/1) $ Add: Raw materials purchases 203,200 Total raw materials available for use Less: Raw materials inventory (12/31) 30,000 Direct materials used $ 230,400 Direct labor Manufacturing overhead Indirect labor 24,000 45,600 Factory depreciation 88,000 Factory utilities 157,600 Total overhead Total manufacturing costs Total cost of work in process 103,200 Less: Work in process (12/31) $691,200 Cost of goods manufactured