1 Part 1 of 2 Exercise 3-30 Schedule of Cost of Goods Manufactured (LO 3-2, 3-4, 3-6) [The following information applies to the questions displayed below.] Crunchem Cereal Company incurred the following actual costs during 20x1. 5.55 points eBook References Direct material used Direct labor Manufacturing overhead $290,000 130,000 273,000 The firm's predetermined overhead rate is 210 percent of direct-labor cost. The January 1 inventory balances were as follows: Raw material Work in process Finished goods $32,000 39,000 42,000 Each of these inventory balances was 10 percent higher at the end of the year. Exercise 3-30 Part 1 Required: 1. Prepare a schedule of cost of goods manufactured for 20x1. CRUNCHEM CEREAL COMPANY Schedule of Cost of Goods Manufactured For the Year Ended December 31, 20x1 Direct material: Raw-material inventory, January 1 $ 32,000