Preparing the statement of cost of goods manufactured

Question

Problem: Use the information illustrated below for the year ended December 31, 20xx, to prepare the statement of cost of goods manufactured.

Inventories                              Beginning    Ending
Materials inventory                     $41,000    $ 51,000
Work in process inventory             62,000      78,000
Direct materials purchased                           258,000
Total direct labor costs                                 372,000
Total indirect labor costs                                67,000
Utilities                                                         41,000
Depreciation                                                 54,000
Small tools                                                     5,000
Factory insurance                                            3,000
Factory supervision                                        66,000
Miscellaneous overhead costs                         11,000