Question 6:

Annapolis Company manufactures quality boating apparel.The following selected financial information for the fiscal year 2020 is provided:

Item

Amount

Sales

$850,000

Beginning Raw Material Inventory

74,000

Direct Material Purchased

318,000

Factory Overhead

90,000

Finished Goods Inventory - January 1

144,000

Work in Process - January 1

74,000

Work in Process - December 31

98,000

Ending Raw Material Inventory

58,000

Finished Goods Inventory - December 31

168,000

Net Income

65,000

Direct Labor

155,000

Cost of Goods Sold

531,000

Use this information toprepareda detailed Schedule of Costs of Goods Manufactured for FY 2020: (Round dollar values & enter as whole dollars only.Properly title your statement.)