Reference no: EM132572539

Annapolis Company manufactures quality boating apparel. The following selected financial information for the fiscal year 2018 is provided:

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

Question 1: 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.)