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THis duiz: 20 pts possible in its Cost of Goods Kelvin Industries is caloulating i beginning balance of $20,000 and an ending balance of $16,000. During the year, the company purchased $65,000 of direct materials $119,000, while manufacturing overhead amounted to $152,000. The Work in Prooess Inventory a Manufactured at yoar-end. Kalvin's accounting records show the following: The Raw Materialis Inventory account had . Direct labor for the year totaled account had a beginning balance of $29,000 and an ending balance of Raw Materials Inventory contains only direct materials. Compute the Cost of Goods Manufactured for the year. (Hint. The first stop is to calculate $15,000. Assume that the direct materials used during the year) Start by caloulating the direct materials used during the year Kelvin Industries Calculation of Direct Materials Used For Current Year Plus: Less ts for a Direct materials used Compute the Cost of Goods Manufactured for the year dules Kelvin Industries Calculation of Cost of Goods Manufectured For Current Year ools Choose from any ist or enter any number in the input flelds and then continue to the next question For Current Yea Beginning raw materials inventory Beginning work in process inventory Cost of goods manufactured Direct labor Ending raw materials inventory Ending work in process inventory Manufacturing overhead dules oolsMaterials available for use Purchases of direct materials Total manufacturing costs incurred during the period C Total manufacturing costs to account for continue to the next