Question: Please help. Needs to know the amount of the question marks. An incomplete cost of goods manufactured schedule is presented below.) HOBBIT COMPANY Cost of

Please help. Needs to know the amount of the question marks.

An incomplete cost of goods manufactured schedule is presented below.)

HOBBIT COMPANY

Cost of Goods Manufactured Schedule

For the Year Ended December 31, 2017

Work in process (1/1) $210,000

Direct materials

Raw material inventory (1/1)$ ?

Add: Raw material purchases158,000

Total raw materials available for use?

Less: Raw material inventory (12/31)22,500

Direct materials used$180,000

Direct labor?

Manufacturing overhead

Indirect labor18,000

Factory depreciation36,000

Factory utilities68,000

Total overhead 122,000

Total manufacturing cost ?

Total cost of work in process ?

Less: Work in process (12/31) $81000 Cost of goods manufactures $540/,000

Instructions

Complete the cost of goods manufactured schedule for Hobbit Company.

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