* Question 3 An incomplete cost of goods manufactured schedule is presented below. Complete the cost of goods manufactured schedule for Hobbit Company. HOBBIT COMPANY Cost of Goods Manufactured Schedule Work in process (1/1) Direct materials 5211,850 Raw materials inventory (1/1) Add: Ra materials purchases Total raw materials available for use Less: Raw materials inventory (12/31) 162,990 27,940 Direct materials used Direct labor Manufacturing overhead $190,340 Indirect labor Factory depreciation Factory utilities Total overhead 27,410 44,040 69,050 140,500 Total manufacturing costs Total cost of work in process Less: Work in process (12/31) Cost of goods manufactured 84,660 5550,400