An incomplete cost of goods manufactured schedule is presented below. Complete the cost of goods manufactured schedule for Vaughn Company.
VAUGHN COMPANY
Cost of Goods Manufactured Schedule
Work in process (1/1) $220,940
Direct materials
Raw materials inventory (1/1) $
Add: Raw materials purchases 159,120
Total raw materials available for use
Less: Raw materials inventory (12/31) 22,610
Direct materials used $188,420
Direct labor
Manufacturing overhead
Indirect labor 25,620
Factory depreciation 37,200
Factory utilities 76,500
Total overhead 139,320
Total manufacturing costs
Total cost of work in process
Less: Work in process (12/31) 83,230
Cost of goods manufactured $544,240