Reference no: EM132469977
An incomplete cost of goods manufactured schedule is presented below.)
HOBBIT COMPANY
Cost of Goods Manufactured Schedule
For the Year Ended December 31, 2017
Work in process (1/1) $210,000
Direct materials
Raw material inventory (1/1) $ ?
Add: Raw material purchases 158,000
Total raw materials available for use ?
Less: Raw material inventory (12/31) 22,500
Direct materials used $180,000
Direct labor ?
Manufacturing overhead
Indirect labor 18,000
Factory depreciation 36,000
Factory utilities 68,000
Total overhead 122,000
Total manufacturing cost ?
Total cost of work in process ?
Less: Work in process (12/31) $81000
Cost of goods manufactures $540/,000
Instructions
Question 1: Complete the cost of goods manufactured schedule for Hobbit Company.
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