A D E Depreciation-equipment Direct labor Direct materials inventory, 1/1 Direct materials inventory, 12/31 Factory rent Finished goods, 1/1 Finished goods, 12/31 Indirect labor Indirect materials Purchases of direct materials Work in process, 1/1 Work in process, 12/31 $45,000 642,000 91,500 93,000 76,410 132,000 172,500 37,500 26,250 645,180 30,300 28,665 Answer Section: Jackson Manufacturing Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 Work in process, 1/1 Direct materials Direct materials inventory, 1/1 Add: Purchases of Materials 30,300 91,500 FORMULA1 Cost of direct materials available Less: Direct Material, 12/31 $0 FORMULA2 FORMULA3 642,000 Cost of direct materials used Direct labor Manufacturing overhead: Factory rent Depreciation - Equipment Indirect Labor Indirect Material $76,410 FORMULA4 FORMULAS FORMULA6 0 Total manufacturing costs incurred FORMULA7 Total manufacturing costs Less: Work in Process, 12/31 $0 FORMULAR Cost of goods manufactured Finished Goods, 1/1 FORMULAS FORMULA 10 53 Cost of bods available for sale Less: Finished goods. 12/31 MFG + FORMULA 11 172.500 FORMULA10 Finished Goods, 1/1 Cost of goods available for sale Less: Finished goods, 12/31 Cost of Goods Sold 2 3 4 5 .6 2 8 9 50 51 FORMULA11 172,500 FORMULA12