Hobbit Company Cost of Goods Manufactured Schedule For the Year Ended December 31, 2022 $210,000 $ ? 158,000 ? Work in process (1/1) Direct materials Raw materials i nventory (1/1) Add: Raw mater ials purchases Total raw mater ials available for u se Less: Raw mate rials inventory (1 2/31) Direct materials u sed Direct labor Manufacturing ov erhead Indirect labor 22,500 $180,000 ? 18,000 Page 1 of 15 36,000 68,000 122,000 ? Factory depreci ation Factory utilities Total overhead Total manufacturi ng costs Total cost of work in process Less: Work in pro cess (12/31) Cost of goods ma nufactured ? 81,000 $540,000 Instructions Complete the cost of goods manufactured schedule for Hobbit Company