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Electric Tools Incorporated produces and sells all electric power tools. The accounting manager received the following incomplete schedule of cost of goods manufactured and

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Electric Tools Incorporated produces and sells all electric power tools. The accounting manager received the following incomplete schedule of cost of goods manufactured and sold for the year: Required: Supply the missing information for Electric Tools Incorporated. ELECTRIC TOOLS INCORPORATED Schedule of Cost of Goods Manufactured For the Year Ended December 31, Year 2 Cost of direct raw materials used Direct labor Manufacturing overhead Total manufacturing cost Plus: Beginning work in process inventory Total work in process inventory Ending work in process inventory Cost of goods manufactured $ 250,000 110,000 480,000 52,000 43,000

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