Problem - Hirschman Corporation has provided the following data for the month of April:
Inventories Beginning Ending
Raw materials $ 21,000 $ 35,000
Work in process 17,000 19,000
Finished goods 46,000 38,000
Additional information:
Raw materials purchases $ 76,000
Direct labor cost 81,000
Manufacturing overhead cost incurred 42,000
Indirect materials included in manufacturing overhead cost incurred 6,000
Manufacturing overhead cost applied to Work in Process 44,000
Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold in good form.