49. (CGM and CGS) Cathy’s Custom Clocks’ August 2001 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:

Inventories August 1, 2001 August 31, 2001 Direct materials $ 30,000 $42,000 Work in process 90,000 ?

Finished goods 125,000 98,000

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 direct production costs incurred in August?

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