Determine missing amounts in cost of goods manufactured schedule. An incomplete cost of goods manufactured schedule is presented below.

MADLOCK MANUFACTURING COMPANY

Cost of Goods Manufactured Schedule

For the Year Ended December 31, 2005

Work in process (1/1)

210,000

Direct materials:

Raw materials inventory (1/1)

?

Add: Raw materials purchases

158,000

Total raw materials available for use

?

Less: Raw materials inventory (12/31)

7,500

Direct materials used

190,000

Direct labor

?

Manufacturing overhead:

Indirect labor

18,000

Factory depreciation

36,000

Factory utilities

68,000

Total overhead

122,000

Total manufacturing costs

?

Total cost of work in process

?

Less: Work in process (12/31)

81,000

Cost of goods manufactured

530,000

Instructions:

Complete the cost of goods manufactured schedule for Madlock Manufacturing Company.