Reference no: EM132638535

Annapolis Company manufactures quality boating apparel. The following selected financial information for the fiscal year 2020 is provided:

Item                                                       Amount

Sales                                            $850,000
Beginning Raw Material Inventory          74,000
Direct Material Purchased                    318,000
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  168,000
Net Income                                            65,000
Direct Labor                                           155,000
Cost of Goods Sold                                  531,000

Problem 1: Use this information to prepared a detailed Schedule of Costs of Goods Manufactured for FY 2020: (Round dollar values & enter as whole dollars only. Properly title your statement.)