Reference no: EM132647623

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

Question 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.)