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Prepare a Schedule of Cost of Goods Manufactured. Show work.
OBJ. 2, 3 The following information is available for The NewQuest Corporation for 2016 ME HOWW Inventories Materials Work in process Finished goods January 1 $351,000 631,800 $436,800 592,800 576,000 Advertising expense Depreciation expense-office equipment Depreciation expense-factory equipment Direct labor Heat, light, and power-factory Indirect labor Materials purchased Office salaries expense Property taxes-factory Property taxes-office building Rent expense-factory Sales Sales salaries expense Supplies-factory Miscellaneous costs-factory $ 296,400 42,120 56,160 670,800 22,460 78,750 659,800 185,000 18,500 32,400 32,000 3,010,000 420,000 15,400 9,500
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