during the just completed year: Total actual manufacturing overhead costs incurred (including $15,000 of indirect materials.. Purchases of raw materials (both direct and indirect) Direct labor cost Inventories: $353,000 $250,000 $135,000 Raw materials, beginning. Raw materials, ending Work in process, beginning Work in process, ending. $10,000 $15,000 $20,000 $35,000 The company uses a predetermined overhead rate to apply manufacturing overhead cost to production. The predetermined overhead rate for the year was $15 per machine-hour. A total of 23,000 machine-hours were recorded for the year. Required: b. Prepare a Schedule of Cost of Goods Manufactured for the year