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Annapolis Company manufactures quality boating apparel. 

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Annapolis Company manufactures quality boating apparel.  The following

selected financial information for the fiscal year 2018 is provided:

Use this information to prepared a detailed Schedule of Costs of Goods Manufactured for FY 2018: (Round dollar values & enter as whole dollars only. Properly title your statement.)

2019-11-22_1103.png

2019-11-22_1103.png

Item
Amount
Sales
$850,000
Beginning Raw Material Inventory
74,000
Direct Material Purchased
308,000
Factory Overhead
90,000
Finished Goods Inventory –
January 1
144,000
Work in Process – January 1
74,000
Work in Process – December 31
98,000
Ending Raw Material Inventory
58,000
Finished Goods Inventory –
December 31
168,000
Net Income
65,000
Direct Labor
155,000
Cost of Goods Sold
655,000
 
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