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.

Required B

Prepare a schedule of cost of goods manufactured.

Schedule of Cost of Goods Manufactured
Direct materials
Raw materials inventory, beginningselected answer correct	$7,000selected answer correct
Raw materials purchasesselected answer correct	125,500selected answer correct
Raw materials available for use	not attempted
Less: Raw materials inventory, endingselected answer correct	not attempted
Direct materials usedselected answer correct		$0
Direct laborselected answer correct		not attempted
Factory overhead
Depreciation expenseFactoryselected answer correct	not attempted
Factory utilitiesselected answer correct	not attempted
Indirect laborselected answer correct	not attempted
not attempted	not attempted
Total factory overhead		0
Total manufacturing costsselected answer correct		not attempted
Add: Work in process inventory, beginningselected answer correct		not attempted
not attempted		0
Less: Work in process inventory, endingselected answer correct		not attempted
Cost of goods manufactured		$0