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
Direct labor 90,000
Factory maintenance 18,000
Depreciation of delivery vehicles 16,000
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)
