Question: Drake Company manufactures quality gentlemen's clothing. The following selected financial information for the fiscal year 2017 is provided: Item Amount Sales $100,000 Cost of Goods

Drake Company manufactures quality gentlemen's clothing. The following selected financial information for the fiscal year 2017 is provided:

Item

Amount

Sales

$100,000

Cost of Goods Manufactured

75,000

Direct Material Purchased

30,000

Factory Overhead

10,000

Work in Process - January 1

30,000

Work in Process - December 31

15,000

Direct Material - December 31

10,000

Finished Goods Inventory - December 31

60,000

Net Income

15,000

Direct Materials used

30,000

Cost of Goods Sold

55,000

Use this information to prepared a detailed Schedule of Costs of Goods Manufactured for FY 2017: (Round dollar values & enter as whole dollars only.)

Schedule of Costs of Goods Manufactured

Schedule of Costs of Goods Manufactured

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