Hello,

I'm not really sure how to answer this in the format the prof wants. Any help would be much appreciated! Thank you so much!

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Statement of Cost of Goods Manufactured P2. Jackplum Vineyards, whose fiscal year begins on November 1, has just completed a record-breaking year producing and selling wine. Its inventory account balances October 31 of this year were Materials Inventory, $83,800; Work in Process Inventory, $2,700,500; and Finished Goods Inventory, $1,800,200. At the beginning of the year, the inventory Inventory, $3,300,000; and Finished Goods Inventory, $1,596,400. During the fiscal year, the company's purchases of direct materials totaled $750,000. Direct labor hours totaled 140,000, and the average labor rate was $11.00 per hour. The following overhead costs were incurred during the year: depreciation-plant and cquipment, $85,600; indirect labor, $207,300; property tax-plant and cquipment, $96,000; plant maintenance, $80,000; small tools, $42,400; utilities, $96,500; and employee benefits, $176,100. on were Materials Inventory, $56,200; Work in Process account balances REQUIRED Prepare a statement of cost of goods manufactured for the year ended October 31. Jackplum Vineyards Statement of Cost of Goods Manufactured For the Year Eeded October 31 Direct materials used: Materials inventery, beginning Direct materials parchased direct materiuls available for use Cast Less materials inventory, emding Cost of direet materisls used Direct labor Overhead: Depreciation, plant and equipment Indirect labor Property ta, plant and ejuipment Plant maintenance Sanatl tools Utities Emelovee benefits Total overhead Total manufactutine costs Add work in process inventory, beginning Total cost of work in process during the year Less work in prooess inventorry, ending Cost of goods manfachured