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The following data were taken from the records of Mavericks Inc, for the calendar year...

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Accounting

The following data were taken from the records of Mavericks Inc, for the calendar year ended December 31, 2020.
1-Jan 31-Dec
Raw Materials Inventory 310,000 83,000
Work in Process Inventory 161,000 103,750
Finished Goods Inventory 22,000 57,600
Additional Information: Total Costs
Raw Materials Purchases 301,250
Direct Labor 315,000
Indirect Labor 42,750
Equipment Depreciation 61,000
Utilities 50,750
Other Costs 10,500
Factory Manager's Salary 44,000
SG&A Salary 85,500
Insurance 10,500
Factory Operations Cost: % of total costs
Utilities 60%
Depreciation 55%
Insurance 75%
Other Costs 100%
1. Prepare a cost of goods manufactured schedule as of December 31, 2020, in good form. (using excel)
2. Provide a written Interpretation of the results

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