HOBBIT COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2020 $ 211,070 Work in process (1/1) Direct materials Raw materials Inventory (1/1) 51800 Add: Raw materials purchases 166.750 Total raw materials available for use 218550 30.620 Less: Raw materials inventory (12/31) Direct materials used $ 187,930 Direct labor 26.790 Manufacturing overhead Indirect labor Factory depreciation Factory utilities Total overhead 37.100 74.000 137.890 416570 Total manufacturing costs Total cost of work in process 627540 Less Work in process (12/31 85.390 Cost of goods manufactured 5542250 HOBBIT COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2020 $ 211,070 Work in process (1/1) Direct materials Raw materials Inventory (1/1) 51800 Add: Raw materials purchases 166.750 Total raw materials available for use 218550 30.620 Less: Raw materials inventory (12/31) Direct materials used $ 187,930 Direct labor 26.790 Manufacturing overhead Indirect labor Factory depreciation Factory utilities Total overhead 37.100 74.000 137.890 416570 Total manufacturing costs Total cost of work in process 627540 Less Work in process (12/31 85.390 Cost of goods manufactured 5542250