Problem 2-24 Schedule of Cost of Goods Manufactured; Income Statement; Cost Behaviour Carlton Manufacturing Company provided the following details about operations in February: $ Purchases of raw materials Maintenance, factory Direct labour Depreciation, factory equipment Indirect materials, factory Selling & administrative salaries Utilities, factory Sales commissions Insurance, factory equipment Depreciation, sales equipment Advertising expenses Rent, factory building 130,000 37,000 32,500 55,000 3,000 42,500 26,000 17,500 4,000 20,000 107,500 ? The company also provided details regarding the balances in the inventory accounts at the beginning and end of the month as follows: Beginning Ending Raw materials $ 25,000 ? 20000 Work in process $ 24,000 ? Finished goods $ 15,000 ? Raw materials used in production cost $135,000, total overhead costs for the year were $170,000, the goods available for sale totalled $360,000, and the cost of goods sold totalled $317,500. Required: 1-a. Prepare a schedule of cost of goods manufactured of the company's income statement for the year. CARLTON MANUFACTURING Schedule of Cost of Goods Manufactured Direct materials Raw materials inventory, beginning $ 25,000 Purchases of raw materials 130,000 Raw materials available for use 155,000 Raw materials inventory, ending 20,000 Raw materials used in production $ 135,000 Direct labour 32,500 Manufacturing overhead Maintenance, factory 37,000 Depreciation, factory equipment 55,000 Indirect materials, factory 3,000 Utilities, factory 26,000 Insurance, factory 4,000 Rent, factory building 45,000 Total overhead costs 170,000 Total manufacturing costs 337,500 Raw materials inventory, beginning 24,000 361,500 Raw materials inventory, ending how can I find this? Cost of goods manufactured