Note: Assume all raw materials were used as direct materials.

	Beginning of Year	End of Year
Inventories
Raw materials inventory	$ 7,000	$ 9,500
Work in process inventory	14,000	10,000
Finished goods inventory	10,500	6,500

Activity during current year
Raw materials purchased	$ 125,500
Direct labor	95,000
Factory overhead	42,000

Factory overhead of $42,000 consists of Indirect labor of $21,000, Depreciation expenseFactory of $16,000, and Factory utilities of $5,000. a. Compute total manufacturing costs. b. Prepare a schedule of cost of goods manufactured.