1 2 Direct materials used Direct labor $10,170 3700 5,450 8,320 Manufacturing overhead 8,500 4,980 Total manufacturing costs 24120 17,000 (a) Beginning work in process inventory 1,250 9200 Ending work in process inventory 3,420 (4) Sales revenue Sales discounts Cost of goods manufactured Beginning finished goods inventory 4910 8160 (b) 25,600 32960 (i) 2.940 1,730 17,210 22,780 3,980 (c) Goods available for sale 22.120 26760 (1) Cost of goods sold 17660 23500 (d) (k) Ending finished goods inventory 4460 3,260 (b) Goods available for sale 22,120 26760 Cost of goods sold 17660 23500 (d) (k) Ending finished goods Inventory 4,460 Gross profit 5000 3,260 7,730 (e) Operating expenses 3,230 2270 (1) Net income 1770 5,460 (1) eTextbook and Media Your Answer Correct Answer Your answer is correct Attempts: 1 of 5 used Your answer is correct Prepare a condensed cost of goods manufactured schedule for Case 1. CASE 1 Cost of Goods Manufactured Schedule Work in Process Inventory, Beginning ~ Direct Materials Direct Labor Manufacturing Overhead Total Manufacturing Costs Total Cost of Work in Process Less Work in Process Inventory, Ending Cost of Goods Manufactured eTextbook and Media 10170 5450 8500 1250 24120 25370 -8160 i 17210. CASE 1 Income Statement Prepare the current assets section of the balance sheet for Case 1. Assume that in Case 1 the other items in the current assets section are as follows: Cash $3,960, Receivables (net) $15,580, Raw Materials $710, and Prepaid Expenses $420. (List Current Assets in order of liquidity.) v CASE 1 (Partial) Balance Sheet S $