Work in process inventory (1/1) Direct materials $435,200 Raw materials inventory (1/1) - Raw materials purchases Raw materials available for use Raw materials inventory (12/31) Direct materials used Direct labor Manufacturing overhead Indirect labor Factory depreciation Factory utilities Total overhead Total manufacturing costs Total cost of work in process Less: Work in process inventory (12/31) Cost of goods manufactured $ 314,880 $326,400 24,320 48,640 49,920 Work in process inventory (1/1) Direct materials Raw materials inventory (1/1) Raw materials purchases Raw materials available for use Raw materials inventory (12/31) Direct materials used Direct labor Manufacturing overhead Indirect labor Factory depreciation Factory utilities Total overhead Total manufacturing costs Total cost of work in process Less: Work in process inventory (12/31) $435,200 $ 314,88047,360 $326,400 24,320 48,640 49,920