Cornelius Company produces women's clothing. During the year, the company incurred the following costs: Factory rent...

 

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Cornelius Company produces women's clothing. During the year, the company incurred the following costs: Factory rent Direct labor Utilities-factory Purchases of direct materials Indirect materials Indirect labor Inventories for the year were as follows: Materials. Work-in-Process Finished Goods January 1 $ 32,500 48,750 150,000 402, 500 345,000 44,000 592,500 78,750 69,000 December 31 $ 51,250 43,000 83,250 Required: 182. Prepare a statement of cost of goods manufactured and calculate cost of goods sold. Cornelius Company produces women's clothing. During the year, the company incurred the following costs: Factory rent Direct labor Utilities-factory Purchases of direct materials Indirect materials Indirect labor Inventories for the year were as follows: Materials. Work-in-Process Finished Goods January 1 $ 32,500 48,750 150,000 402, 500 345,000 44,000 592,500 78,750 69,000 December 31 $ 51,250 43,000 83,250 Required: 182. Prepare a statement of cost of goods manufactured and calculate cost of goods sold.