63. (CGM and CGS) Catherine’s Collectibles produces objets d’art. The company’s Raw Materials Inventory account includes the costs of both direct and indirect materials. Account balances for the company at the beginning and end of July 2000 are shown below.

July 1, 2000 July 31, 2000 Raw Materials Inventory $23,300 $17,400 Work in Process Inventory 36,600 30,000 Finished Goods Inventory 18,000 26,200 During the month, Catherine’s Collectibles purchased $85,000 of raw materials;
direct materials used during the period amounted to $68,000. Factory payroll costs for July were $91,300 of which 85 percent was related to direct labor.
Overhead charges for depreciation, insurance, utilities, and maintenance totaled $81,200 for July.

a. Prepare a schedule of cost of goods manufactured.

b. Prepare a schedule of cost of goods sold.