Use the Information Below for the Year Ended December 31,20xx,to

Essay

Use the information below for the year ended December 31,20xx,to prepare the statement of cost of goods manufactured.
$\begin{array}{|lrr|}\hline \text { Inventories } & \text { Beginning } & \text { Ending } \\\text { Materials inventory } & \$ 41,000 & \$ 51,000 \\\text { Work in process inventory } & 62,000 & 78,000 \\\text { Direct materials purchased } & & 258,000 \\\text { Total direct labor costs } & & 372,000 \\\text { Total indirect labor costs } && 67,000 \\\text { Utilities } & & 41,000 \\\text { Depreciation } & & 54,000 \\\text { Small tools } && 5,000 \\\text { Factory insurance } && 3,000 \\\text { Factory supervision } && 66,000 \\\text { Miscellaneous overhead costs } && 11,000\\\hline\end{array}$