Required: Prepare a schedule of cost of goods manufactured for Varda, Inc. using the format below.
Varda, Inc. used $213,000 of direct materials and incurred $111,000 of direct labor costs during the
year. Indirect labor amounted to $8,100, while indirect materials used totaled $4,800. Other operating
costs pertaining to the factory included utilities of $9,300; maintenance of $13,500; repairs of $5,400;
depreciation of $23,700; and property taxes of $7,800. There was no beginning or ending finished goods
inventory. The Work-in-Process Inventory account reflected a balance of $16,500 at the beginning of the
period and $22,500 at the end of the period.
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