Schedule of Cost of Goods Manufactured and Sold The following amounts are available for 2016 for Bishop Manufacturing Company: Administrative salaries (non-factory) $127,500 Administrative rent (non-factory) 70,500 Advertising and promotion expense 139,500 Depreciation-administrative 115,500 Depreciation-factory 142,500 Depreciation-selling 54,000 Direct labor 487,500 Factory rent 102,000 Factory supplies used 34,500 Finished goods inventory (January 1) 91,500 Finished goods inventory (December 31) 94,500 Indirect material used 40,500 Indirect labor 66,000 Materials inventory (January 1) 33,000 Materials inventory (December 31) 45,000 Net delivered cost of materials purchased 315,000 Other factory overhead 82,500 Sales 1,407,000 Sales salaries expense 106,500 Work in process inventory (January 1) 49,500 43,500 Work in process inventory (December 31) Using the above data, prepare a schedule of cost of goods manufactured and sold. Do not use negative signs with any of your answers. Bishop Manufacturing Company Schedule of Cost of Goods Manufactured and Sold Direct material: For the Year Ended December 31,2016 Beginning materials inventory 49,500 Work in process inventory (December 31) 43,500 Using the above data, prepare a schedule of cost of goods manufactured and sold. Do not use negative signs with any of your answers. Bishop Manufacturing Company Schedule of Cost of Goods Manufactured and Sold Direct material: For the Year Ended December 31,2016 Beginning materials inventory Cost of material available Less: Total materials used Less: Direct material used Direct labor Manufacturing overhead Indirect material Indirect labor Factory supplies used Factory depreciation Factory rent 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 4 + $