Cost of goods manufactured The 1992 year-end account balances and inventory data for the Candle Company are shown on the next page.

REQUIRED

a. Prepare a schedule of cost of goods manufactured.

b. Prepare a schedule of cost of goods sold.

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Ending finished goods inventory, 12/31/92 Indirect labor $171,300 23,700 Cash... 129,633 Accounts receivable... 36,630 Direct labor... 238,050 Depreciation, building (70 percent of which is for the manufacturing plant) 120,000 Rent, office equipment ..... 9,600 Property tax (70 percent of which is for the manufacturing plant) Utilities (80 percent of which is for the manufacturing plant) Ending work in process inventory, 12/31/92 ... Investments Direct material Miscellaneous factory costs Fire insurance, building... Fire insurance, finished goods inventory Beginning work in process inventory, 1/1/92. Beginning finished goods inventory, 1/1/92. Salaries, sales personnel...... Salaries, factory supervision 27,000 78,000 97,200 378,000 246,000 26,700 32,400 10,200 111,900 95,250 220,200 155,700