Reference no: EM132653907
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?
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