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1. Prepare a schedule of Cost Of gooas manufacturea. X Answer is not complete. ALEXANDRIA ALUMINUM COMPANY Schedule of Cost of Goods Manufactured For the Year Ended December 31, 20x1 Direct material: $ 60,000 260,000 420,000 X (70,000) $ Raw-material inventory, January 1 Add: Purchases of raw material Raw material available for use Less: Purchases of raw material Raw material used Direct labor Manufacturing overhead: Indirect material 400.000 $ Indirect labor Depreciation on plant and equipment Utilities 12,000 25,000 100,000 24,000 30,000 Other $ Total manufacturing overhead Total manufacturing costs Add: Work-in-process inventory, December 31 Subtotal X 191,000 591,000 120,000 711,000 X (115,000) 596,000 X Cost of goods manufactured $ Het HW: Chapter 2 Saved Help Save & Exit Submit Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question Required information [The following information applies to the questions displayed below) Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1. Inventory Classification January 1, 20x1 December 31, 20x1 Raw material $ 60,000 $ 70,000 Work in process 12e,eee 115,800 Finished goods 170,080 165,000 During 20x1, the company purchased $260,000 of raw material and spent $400,000 on direct labor. Manufacturing overhead costs were as follows: Indirect material Indirect labor Depreciation on plant and equipment Utilities Other $ 12,000 25,000 1 100, eee 24,00 30,000 Sales revenue was $1114,000 for the year. Selling and administrative expenses for the year amounted to $110,000 The firm's tax rate is 40 percent. Required: 1. Prepare a schedule of cost of goods manufactured. Answer is not complete