Lang Productions had the following beginning and ending inventory balances for April 2009.
- 4/1/09 4/30/09
- Raw material Inventory $18,000 $20,800
- Work in Process inventory 85,200 50,800
- Finished Goods Inventory 43,200 14,700
All raw materials are considered to the manufacturing process. During April, the company purchased $260,000 of raw materials. Direct labor cost for the month was $342,000; workers are paid $9.50 per hour. Overhead is applied at the rate of $12.50 for each direct labor hour.
(a) Prepare the Schedule of Cost of Goods Manufactured.
(b) Calculate Cost of Goods Sold for April 2009.