(CGM and CGS) Cathy's Custom Clocks' August 1998 cost of goods sold was $2,300,000. August 31 work in process was 40 percent of the August 1 work in process. Overhead was 225 percent of direct labor cost. During August, $768,500 of direct materials were 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 materials Work in process Finished goods AUGUST 1 $ 30,000 90,000 125,000 AUGUST 31 $42,000 P 98,000