Information for Luqmann, Inc., as of December 31 follows. Prepare a schedule of cost of goods manufactured for the year ended December 31.
Administrative salaries
$ 35,000
Depreciation of factory equipment
25,000
Depreciation of delivery vehicles
6,000
Direct labor
68,000
Factory supplies used
9,000
Finished goods inventory, January 1
57,000
Finished goods inventory, December 31
?
Factory insurance
15,500
Interest expense
12,000
Factory utilities
14,000
Factory maintenance
7,500
Raw materials inventory, January 1
5,000
Raw materials inventory, December 31
Raw material purchases
125,000
Rent on factory building
Repairs of factory equipment
11,500
Sales commissions
37,500
Work in Process inventory, January 1
3,500
Work in Process inventory, December 31
2,700
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