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    Feb 15, 2011, 06:31 PM
    Prepare a schedule of cost of goods manufactured and COGS for year ended Dec.31, 2007
    Direct material 92,000-jan.1 65,000-dec.31
    Work-in-process 72,000-jan.1 55,000-dec.31
    Finished goods 137,000-jan.1 130,000-dec.31
    Direct materials purchased 405,000
    Cost of goods available for sale 1,257,880
    Actual factory overhead cost 321,250

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