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

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Accounting

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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: $6,000 $10,500 $10,000 $9.500 Beginning direct materials inventory, January 1 Ending direct materials inventory, December 31 Beginning work in process, January 1 Ending work in process, December 31 Materials purchases Finished Goods Inventory on January 1 Finished Goods Inventory on December 31 Direct labor Indirect labor $50,000 $20,000 $5.000 $40,000 $15.000 Factory utilities expense $7,000 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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