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! Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.) Assume the raw materials inventory account is used only for direct materials. Note: Assume direct materials. End of Year Beginning of Year Inventories Raw materials inventory $ 7,000 Work in process inventory 14,000 Finished goods inventory 10,500 Activity during current year Raw materials purchased $ 125,500 Direct labor 95,000 Factory overhead 42,000 $ 9,500 10,000 6,500 QS 14-17 (Algo) Schedule of cost of goods manufactured LO P2 Factory overhead of $42,000 consists of Indirect labor of $21,000, bepreciation expense-Factor $5,000. a. Compute total manufacturing costs. b. Prepare a schedule of cost of goods manufactured. Complete this question by entering your answers in the Required A Required B Compute total manufacturing costs. Total manufacturing costs $ 0 Required A Required A Required B Prepare a schedule of cost of goods manufactured. Schedule of Cost of Goods Manufactured Direct materials Raw materials inventory, beginning $ 7,000 Raw materials purchases 125,500 Raw materials available for use $ 0 Factory overhead Total factory overhead 0 + 0 Cost of goods manufactured $ 0