Please fill in the yellow cells (attached) and provide an explanation on how the answer was obtained so I can complete these questions without assistance.
MADLOCK MANUFACTURING COMPANY
Cost of Goods Manufactured Schedule
For the Year Ended December 31, 2005
Work in process (1/1) $210,000
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 ?
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
The solution finds the missing amounts for MADLOCK MANUFACTURING COMPANY in their Cost of goods manufactured schedule.