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The following data (in thousands of dollars) have been taken from the accounting records

of Larden Corporation for the just completed year. Sales $950 Purchases of raw materials
$170 Direct labor $210 Manufacturing overhead $200 Administrative expenses $180
Selling expenses $140 Raw materials inventory, beginning $70 Raw materials inventory,
ending $80 Work in process inventory, beginning $30 Work in process inventory, ending
$20 Finished goods inventory, beginning $100 Finished goods inventory, ending $70
Required: Prepare a Schedule of Cost of Goods Manufactured statement in the text box
below. (Points: 15)
Schedule of Cost of Goods Manufactured
Direct materials:
Direct materials inventory, beginning.......................
Add purchases of raw materials................................
Total raw materials available....................................
Deduct direct materials inventory, ending................
Raw materials used in production................................
Direct labor...................................................................
Manufacturing overhead applied .................................
Total manufacturing costs.............................................
Add: Work in process, beginning.................................
Deduct: Work in process, ending..................................
Cost of goods manufactured.........................................

$ 70
170
240
80
$160
210
200
570
30
600
20
$580