Problem: Supply the missing information on the following schedule of cost of goods manufactured.
Dewberry Corporation
Schedule of Cost of Goods Manufactured
For the Year Ended December 31, 2011
Raw Materials
Beginning Inventory (?)
Plus Purchases $120,000.00
Raw materials available for use $148,000.00
Minus: Ending raw materials inventory (?)
Cost of direct raw materials used $124,000.00
Direct labor (?)
Manufacturing overhead $24,000.00
Total Manufacturing costs $310,000.00
Plus beginning work in process inventory (?)
Total work in process (?)
Minus: Ending work in process inventory $46,000.00
Cost of goods manufactured $306,000.00.