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Make a detailed schedule of costs of goods manufactured

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Reference no: EM132653177

Question - 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

Required - Use this information to make a detailed Schedule of Costs of Goods Manufactured for FY 2020?

Reference no: EM132653177

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