Response to the following problem:
Rocket Company produces small gasoline-powered engines for model airplanes. Mr. Clemens, Rockets CFO, has presented you with the following cost information:
Direct Materials Inventory, beginning $ 81,000
Direct Materials Inventory, ending $ 126,000
Work in Process Inventory, beginning $ 140,000
Work in Process Inventory, ending $ 95,000
Direct labor $ 790,000
Direct materials purchases $ 980,000
Insurance, factory $ 52,000
Depreciation, factory $ 27,000
Depreciation, executive offices $ 12,000
Indirect labor $ 210,000
Utilities, factory $ 17,000
Utilities, executive offices $ 9,000 P
roperty taxes, factory $ 16,000
Property taxes, executive offices $ 12,000
Using this cost information, prepare a cost of goods manufactured schedule for Mr. Clemens.