January 1 2022 2022. december 31

Raw materials inventory $23600. 34200

work in process inventory 15900. 19750

finished goods inventory 30950. 23940

materials purchased. 171000

direct labor. 250800

manufacturing overhead. 205200

sales revenue. 1037400

compute cost of goods manufactured.(assume that all raw materials used were direct materials.)

skysong company

cost of goods manufactured schedule

work in process Jan 1

direct materials

raw materials inventory Jan 1. $23600

raw materials purchased $171000

raw materials available for use $194600

less: raw materials inventory dec 31 $34200

raw materials inventory dec 31 (WRONG). $160400

direct labor. $250800

manufacturing overhead. $205200

Total manufacturing costs. 616400

total cost of work in process. 632300

less: work in process dec 31. 19750

cost of goods manufactured. $612550

Income statement through gross profit.

Skysong company

Income statement partial

For the year ended December 31 2022

Sales rev. 1037400

Cost of goods sold

Finished goods inv Jan 1. $30950

Cost of goods manufactured $612550

Materials purchased (WRONG) $643500

Less: finished goods inv dec 31. $23940

Cost of goods sold. 619560

Gross profit. 417840

753%.! - _ ' '- Show the presentation of the ending Inventories on the December 31, 2022, balance sheet. SKYSONG COMPANY Balance Sheet (Partial) A v ASSETS o $ 0 A v