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Problem 1 Required: Use the following information to complete the below schedule of cost of goods manufactured.
I need help with this..Problem 1Required: Use the following information to complete the below schedule of cost of goods manufactured.(25 points)Purchases of raw materials $120,000.00 Raw materials available for use $148,000.00 Cost of direct raw materials used $124,000.00 Manufacturing overhead $24,000.00 Total manufacturing costs $310,000.00 Ending work-in-process inventory $(46,000.00)Cost of goods manufactured $306,000.00 Schedule of Cost of Goods ManufacturedBeginning inventory, raw materialsPlus: Purchases of raw materialsLess: Ending raw materials inventoryDirect laborManufacturing overheadPlus: Beginning work-in-process inventoryLess: Ending work-in-process inventory
