Reference no: EM132601027

Annapolis Company manufactures quality boating apparel. The following selected financial information for the fiscal year 2018 is provided:

Item                                                              Amount

Sales                                                 $850,000

Beginning Raw Material Inventory              74,000

Direct Material Purchased                        308,000

Factory Overhead                                   90,000

Finished Goods Inventory - January 1        144,000

Work in Process - January 1                      74,000

Work in Process - December 31                    98,000

Ending Raw Material Inventory                         58,000

Finished Goods Inventory - December 31 1          68,000

Net Income                                                 65,000

Direct Labor                                               155,000

Cost of Goods Sold                                     655,000

Question 1: Use this information to prepared a detailed Schedule of Costs of Goods Manufactured for FY 2018: (Round dollar values & enter as whole dollars only. Properly title your statement.)