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South State Company used $71,000 of direct materials and incurred $37,000 of direct labor costs during 2012. Indirect labor amounted to $2,700 while indirect materials used totaled $1,600. Other operating costs pertaining to the factory included utilities of $3,100; maintenance of $4,500; repairs of $1,800; depreciation of $7,900; and property taxes of $2,600. There was no beginning or ending finished goods inventory, but work in process inventory began the year with a $5,500 balance and ended the year with a $7,500 balance.
Required: Prepare a schedule of cost of goods manufactured for South State Company using the format below.
Golden Rule
A moral principle that suggests treating others as one would like to be treated oneself, often cited in various religious and philosophical traditions.
Ethical Justification
The process of defending actions or decisions based on ethical principles, showing they adhere to standards of right or wrong.
Social Consensus
The level of agreement among members of a society or group on specific issues, norms, or values.
Public Agreement
A consensus or accord reached among the general public or within a specific community.
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