(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.