A manufacturing company reports the following for the period: Inventories Beginning Ending Raw materials $ 18,020 $ 12,000 Work in process 9,400 11,200 Finished goods 12,460 8,630 Activities for the period Raw materials purchases $ 8,100 Direct materials used 14,120 Direct labor used 9,200 Overhead applied 11,040 Sales 40,000 1. Prepare a schedule of cost of goods manufactured. 2. Compute gross profit.