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prepare a cost of goods manufactured schedule and a cost of goods sold schedule for 592920

(Cost of Goods Manufactured and Cost of Goods Sold) Goodman Products has the following balances for its accounts for the quarter ending March 31:

Direct manufacturing labour

$150,000

Direct materials used

120,000

Depreciation of manufacturing equipment

80,000

Depreciation of computer equipment

41,000

Plant utilities

38,000

Property taxes on building

5,500

Miscellaneous plant overhead

46,000

Finished goods inventory

165,000

General office expenses

98,000

Marketing costs

22,000

Work-in-process inventory

65,000

At the beginning of the quarter (January 1), the following balances for inventories were reported:

Work-in-process inventory

$46,000

Finished goods inventory

$192,000

Prepare a cost of goods manufactured schedule and a cost of goods sold schedule for the quarter.

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