The following information is from ABC Companys general ledger: Beginning and ending inventories, respectively, for raw materials were $9,500 and $11,500 and for work in process were $21,500 and $23,500. Raw material purchases and direct labor costs incurred were $37,500 each, and manufacturing overhead applied amounted to $21,500.

Required:

Prepare a statement of cost of goods manufactured for ABC Company. (Amounts to be deducted should be indicated by a minus sign.)

ABC COMPANY
Statement of Cost of Goods Manufactured
Raw materials:
Raw materials available for use	0
Cost of raw materials used		$0
Total manufacturing costs		0
Cost of goods manufactured		$0