Schedule of Cost of Goods Manufactured and Sold At December 31,2016, the end of its fisal year, Kelly Metal Products Corporation collected the following data for 2016 Materials inventory, January 1 Materials inventory, December 31 Work in process inventory, January 1 Work in process inventory, December 31 Finished goods inventory, January 1 Finished goods inventory, December 31 Net delivered cost of materials purchased Direct labor Indirect material Indirect labor Factory supplies used Factory depreciation Factory repairs and maintenance Selling expenses (total) Non-factory administrative expenses (total) $8,000 5,500 8,500 11,250 5,250 4,500 52,500 33,750 3,250 6,250 3,000 19,500 7,000 15,750 14,250 Prepare a schedule of cost of goods manufactured and sold for Kelly Metal Products Corporation for the year ended December 31,2016, assuming that there were no other manufacturing overhead items than those listed above Do not use negative signs with any of your answers. Kelly Metal Products Corporation Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31,2016 Direct material: Beginning materials inventory Cost of material available Less: Total materials used Direct materials used Direct labor Manufacturing overhead Indirect material Indirect labor Factory supplies used Factory depreciation Factory repairs and maintenance Total manufacturing overhead Total manufacturing costs for the year Add: Total cost of work in process during the year Less: Cost of goods manufactured Add: Cost of goods available for sale Less: Cost of goods sold Check