Work in Process Inventory, Beginning Direct Materials Used Raw Materials Inventory, Beginning ORIOLE COMPANY Schedule of Cost of Goods Manufactured For the Year Ended December 31, 2022 A The following costs and inventory data were taken from the accounts of Oriole Company for 2022: (Assume all raw materials used were direct materials.) Inventories: January 1, 2022 December 31, 2022 Raw materials $ 7,040 $ 6,160 Work in process 13,200 11,440 Finished goods 14,080 10,560 Costs incurred: Raw materials purchases $ 86,240 Direct labor 36,960 Factory rent 7,040 Factory utilities 8,800 Indirect materials 5,280 Indirect labor 7,920 Operating expenses 14,960