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CLICK HERE TO REVIEW LEARNING OBJECTIVES QUESTION 5 Partially correct Mark 1.50 out of 3.00 P Flag question Schedule of Cost of Goods Manufactured and Sold e following amounts are available for 2016 for Bourne Manufacturing Company Administrative salaries (non-factory) $105,000 Administrative rent (non-factory) Advertising and promotion expense Depreciation-administrative Depreciation-factory Depreciation-selling Direct labor Factory rent Factory supplies used Finished goods inventory (January 1) 52,500 61,500 33,000 45,000 25,500 262,500 27,000 18,000 85,500 78,000 21,000 28,500 19,500 30,000 Finished goods inventory (December 31) Indirect material used Indirect labor Materials inventory (January 1) Materials inventory (December 31) Net delivered cost of materials purchased Other factory overhead Sales Sales salaries expense 207,000 39,000 1,267,500 108,000 27,000 Other factory overhead Sales Sales salaries expense Work in process inventory Uanuary 1) Work in process inventory (December 31) 39,000 1,267,500 108,000 27,000 46,500 Using the above data, prepare a schedule of cost of goods manufactured and sold. Do not use negative signs with any of your answers. Bourne Manufacturing Company Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31,2016 Direct material: Beginning materials inventory $19,500 Cost of materials purchased Cost of material available Less: Ending materials inventory Total materials used Less: Indirect materials used Direct material used 262,500 Direct labor Manufacturing overhead Indirect material- 21,000 28,500 18,000 45,000 Indirect labor Factory supplies used Factory depreciation Factory rent 27,000 39,000 Other factory overhead Total manufacturing overhead Total manufacturing costs for the year # Beginning work in process inventory Add: Total cost of work in process during the year 0. Less: Ending work in process inventory Cost of goods manufactured Add: | Beginning finished goods inventory Cost of goods available for sale Less: Ending finished goods inventory Total manufactuing overhead Total manufacturing costs for the year Add: | Beginning work in process inventory Total cost of work in process during the year Less: Ending work in process inventory 0 x Cost of goods manufactured Add: Beginning finished goods inventory Cost of goods available for sale Less: | Ending finished goods inventory # Cost of goods sold Check