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Good Vibrations, Inc. produces videotapes of musical performances. A newly hired executive of the company...

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Good Vibrations, Inc. produces videotapes of musical performances. A newly hired executive of the company has asked you to sort through the records and prepare a statement of the company's cost of goods manufactured. You find the following data from records prepared by Good Vibrations, Inc., for the year ended December 31, 2017: $50.000 Betinning direct materials inventory, January $6.000 Ending direct materials inventory. December 31 $10.500 Beginning work in process. January 1 510,000 Ending work in process. December 31 $9.500 Materials purchases Finished Goods Inventory on January 1 520,000 Finished Goods Inventory on December 31 $5.000 Direct labor $40,000 Indirect labor $15.000 Factory utilities expense 57.000 Factory supplies expense $5.000 Depreciation expense - factory building $14,000 Depreciation expense - Factory Equipment $10.500 Other manufacturing overhead $25.000 REQUIRED: Prepare a schedule of cost of goods manufactured for Good Vibrations, Inc. for the year ended December 31, 2017

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