The following information is supplied for Maupin Manufacturing Company Prepare
The following information is supplied for Maupin Manufacturing Company. Prepare a schedule of cost of goods manufactured for the year ended December 31, 20--. Assume that all materials inventory items are direct materials.
Work in process, January 1 ......... $77,000
Materials inventory, January 1 ....... 31,000
Materials purchases ............ 35,000
Materials inventory, December 31 ....... 26,000
Direct labor ................ 48,000
Overhead ................ 20,000
Work in process, December 31....... 62,000

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