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Information for Luqmann, Inc., as of December 31 follows. Prepare a schedule of cost of...

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Accounting

Information for Luqmann, Inc., as of December 31 follows. Prepare a schedule of cost of goods manufactured for the year ended December 31.

Administrative salaries

$ 35,000

Depreciation of factory equipment

25,000

Depreciation of delivery vehicles

6,000

Direct labor

68,000

Factory supplies used

9,000

Finished goods inventory, January 1

57,000

Finished goods inventory, December 31

?

Factory insurance

15,500

Interest expense

12,000

Factory utilities

14,000

Factory maintenance

7,500

Raw materials inventory, January 1

5,000

Raw materials inventory, December 31

5,000

Raw material purchases

125,000

Rent on factory building

25,000

Repairs of factory equipment

11,500

Sales commissions

37,500

Work in Process inventory, January 1

3,500

Work in Process inventory, December 31

2,700

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