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Statement of Cost of Goods Manufactured
The following data relate to the Denver Company's operations for the year ended December 31, 20XX:
| Direct Materials Purchases | $100,000 |
| Indirect meterial usage | 10,000 |
| Indirect labor | 10,000 |
| Direct Labor | 300,000 |
| Sales salaries | 100,000 |
| Administrative salaries | 50,000 |
| Factory water and electricity | 20,000 |
| Advertising expenses | 60,000 |
| Depreciation-sales and general office | 40,000 |
| Depreciation-factory | 50,000 |
| Beginning Inventories: | |
| Direct Materials | $20,000 |
| Work In Progress | 60,000 |
| Finished goods | 80,000 |
| Ending Inventories: | |
| Direct Materials | $30,000 |
| Work in Progress | 50,000 |
| Finished goods | 60,000 |
Required:
Prepare a statement of cost of goods manufactured.
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