2. Calculate the cost of goods manufactured and cost of goods sold.

A C D E F Stanford Enterprises uses job-order costing. Overhead is applied on the basis of direct labor hours. The following information relates to the year just ended. Data: Actual costs for the year: \begin{tabular}{|l|ll|} \hline Purchase of raw (direct) materials & $ & 375,000 \\ \hline Direct labor cost & $ & 536,300 \\ \hline Manufacturing overhead & $ & 302,750 \\ \hline \end{tabular} \begin{tabular}{|l|r|rr|} \hline Inventories: & \multicolumn{2}{|c|}{ Beginning } & \multicolumn{2}{c|}{ Ending } \\ \hline Raw Materials (All Direct) & $15,000 & $ & 11,375 \\ \hline Work in Process & 27,875 & 22,350 \\ \hline Finished Goods & 34,600 & 26,450 \\ \hline \end{tabular} A B C D E F 382 Calculate the cost of goods manufactured and cost of goods sold. 39 Note: Use cell A2 to A23 from the given information to complete this question. Enter all ending inventory amounts as negative numbers. Stanford Enterprises Cost of Goods Manufactured Report materials: \begin{tabular}{lrr} \hline Beginning raw materials inventory & $ & 15,000 \\ \hline Plus: Raw materials purchased & 375,000 \\ \hline Less: Ending raw materials & 390,000 \\ \hline Raw materials used in production & \\ \hline Direct labor & & 536,300 \end{tabular} Manufacturing overhead applied Total current manufacturing costs Plus: Beginning work in process inventory 27,875 Less: Ending work in process inventory Cost of goods manufactured