(CGM and CGS) Boeheim Custom Clocks’ August 2006 cost of goods sold was $4,600,000. August 31 work in process was 40 percent of the August 1 work in process. Overhead was 225 percent of direct labor cost. During Au¬ gust, $1,537,000 of direct material was purchased. Other August information follows:

a. Prepare a schedule of the cost of goods sold for August.

b. Prepare the August cost of goods manufactured schedule.
C. What was the amount of prime costs incurred in August?

d. What was the amount of conversion costs incurred in August?LO1. 

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Inventories Direct material Work in process Finished goods August 1, 2006 $ 60,000 180,000 250,000 August 31, 2006 $ 84,000 196,000