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Complete the cost of goods manufactured schedule for Madlock Manufacturing Company.
MADLOCK MANUFACTURING COMPANY
Cost of Goods Manufactured Schedule
For the Year Ended December 31, 2005
Work in process (1/1)
$210,000
Direct materials
Raw materials inventory (1/1)
$ ?
Add: Raw materials purchases
158,000
Total raw materials available for use
?
Less: Raw materials inventory (12/31)
7,500
Direct materials used
$190,000
Direct labor
Manufacturing overhead
Indirect labor
$ 18,000
Factory depreciation
36,000
Factory utilities
68,000
Total overhead
122,000
Total manufacturing costs
?
Total cost of work in process
?
Less: Work in process (12/31)
81,000
Cost of goods manufactured
$530,000
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