Use the Information Below for the Year Ended December 31,20xx,to

question 52

Essay

Use the information below for the year ended December 31,20xx,to prepare the statement of cost of goods manufactured.
$\begin{array}{|lrr|}\hline \text { Inventories } & \text { Beginning } & \text { Ending } \\\text { Materials inventory } & \$ 32,300 & \$ 33,900 \\\text { Work in process inventory } & 40,500 & 41,900 \\\text { Direct materials purchased } & & 158,300 \\\text { Total direct labor costs } & & 231,300 \\\text { Total indirect labor costs } & & 45,200 \\\text { Utilities } & & 27,100\\\text { Depreciation } && 36,200 \\\text { Small tools } &&7 3,100 \\\text { Factory insurance } && 1,800 \\\text { Factory supervision } && 39,500 \\\text { Miscellaneous overhead costs } && 6,200\\\hline \end{array}$

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Definitions:

Lipid Soluble

Refers to substances that are capable of dissolving in lipids or fats, which can easily pass through cell membranes.

Facilitated Transport

A process of passive movement of molecules or ions across a biological membrane via specific transmembrane integral proteins.

Glucose

A simple sugar and a key source of energy for cells, often referred to as blood sugar in the context of bodily functions.

Diffusion

The process by which molecules move from an area of higher concentration to an area of lower concentration, leading to the equal distribution of molecules.