The following cost and inventory data are taken from the accounting records of mason company for the year just completed:
costs incurred:
direct labor cost $ 86,000
purchases of raw materials $ 134,000
manufacturing overhead $ 209,000
advertising expense $ 49,000
sales salaries $ 108,000
depreciation, office equipment $ 220,000
beginning of the year end of the year inventories:
raw materials $ 8,200 $ 10,200
work in process $ 5,800 $ 20,700
finished goods $ 74,000 $ 25,800
required :
1) prepare a schedule of cost of goods manufactured. assume all raw materials used in production were direct materials.