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Explaining steps would be appreciated! An incomplete cost of goods manufactured schedule is presented here. Complete the cost of goods manufactured schedule for Larkspur Company.

Explaining steps would be appreciated!

An incomplete cost of goods manufactured schedule is presented here. Complete the cost of goods manufactured schedule for Larkspur Company. (Assume that all raw materials used were direct materials.)

LARKSPUR COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2022

Work in process, January 1

$ 218,400

Direct materials

Raw materials inventory, January 1

$ enter a dollar amount

Raw materials purchases

164,800

Total raw materials available for use

enter a total of the two previous amounts

Less: Raw materials inventory, December 31

24,000

Direct materials used

$ 187,200

Direct labor

enter a dollar amount

Manufacturing overhead

Indirect labor

19,200

Factory depreciation

37,200

Factory utilities

71,200

Total manufacturing overhead

127,600

Total manufacturing costs

enter a total amount for the first part

Total cost of work in process

enter a total amount for all two parts

Less: Work in process, December 31

84,000

Cost of goods manufactured

$ 561,600

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