f Information for Seaside Manufacturing, Inc. as of December 31 follows: Raw Materials Inventory, Jan 1 $ 75,000 Raw Materials Inventory, Dec 31 55,000 Work in Process Inventory, Jan 1 95,000 Work in Process Inventory, Dec 31 85,000 Finished Goods Inventory, Jan 1 110,000 Finished Goods Inventory, Dec 31 130,000 Raw materials purchases 180,000 Sales commissions 20,000 Depreciation of factory equipment 30,000 $3,000 18,000 16,000 Direct labor Factory maintenance Depreciation of delivery vehicles Factory building rent 15,000 Factory utilities 12,000 Interest expense 5,000 Factory insurance 25,000 Required: Prepare a Schedule of Cost of Goods Manufactured for the year ended December 31. (22 points possible)
