SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Sanchez Welding and 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 .....$20,500

Materials inventory, January 1 .....11,000

Materials purchases ..........12,000

Materials inventory, December 31 ..13,000

Direct labor .............9,500

Overhead .............5,500

Work in process, December 31 ....10,500