Weygandt, Financial & Managerial Accounting, 2e Assignment Gradebook ORION An incomplete cost of goods manufactured schedule is presented below. Complete the cost of goods manufactured schedule for Hobbit Company. HOBBIT COMPANY Cost of Goods Manufactured Schedule Work in process (1/1) Direct materials Raw materials inventory (1/1) Add: Raw materials purchases 164,300 Total raw materials available for use Less: Raw materials inventory (12/31) 29,530 Direct materials used 25,530 44,900 Factory utilities 74,980 Total cost of work in process Less: Work in process (12/31) Cost of goods manufactured All Rights Reserved. Division of 2ehn ASrns $185,570 145,410 $213,900 $543,210