Required information [The following information applies to the questions displayed below.) Alexandria Aluminum Company, a manufacturer of recyclable soda cans, had the following inventory balances at the beginning and end of 20x1. Inventory Classification January 1, 20x1 December 31, 20x1 Raw material $ 65,000 $ 70,000 Work in process 120,000 115,00 Finished goods 170,000 165,000 During 20x1, the company purchased $250,000 of raw material and spent $400,000 on direct labor. Manufacturing overhead costs were as follows: $ Indirect material Indirect labor Depreciation on plant and equipment utilities Other 8,000 25,000 100,000 26,000 30,000 Sales revenue was $1,111,000 for the year. Selling and administrative expenses for the year amounted to $110,000. The Sales revenue was $1,111,000 for the year. Selling and administrative expenses for the year amounted to $110,000. The firm's tax rate is 40 percent. Required: 1. Prepare a schedule of cost of goods manufactured ALEXANDRIA ALUMINUM COMPANY Schedule of Cost of Goods Manufactured For the Year Ended December 31, 20x1 Direct material Manufacturing overhead AVE Required information Manufacturing overhead: Total manufacturing overhead Total manufacturing costs Subtotal Cost of goods manufactured