A manufacturing company reports the following for the period: Inventories Beginning Ending Raw materials Work in process Finished goods $ 20, 020 11, 400 14, 460 $ 14,000 13, 200 10, 630 Activities for the period Raw materials purchases Direct materials used Direct labor used Overhead applied Sales $ 10, 100 16, 120 11, 200 13, 040 48,000 1. Prepare a schedule of cost of goods manufactured. 2. Compute gross profit. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a schedule of cost of goods manufactured. Schedule of Cost of Goods Manufactured Direct materials used $ 16,120 Direct labor 11,200 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a schedule of cost of goods manufactured. Schedule of Cost of Goods Manufactured Direct materials used $ 16,120 Direct labor 11,200 Factory overhead applied 13,040 Total manufacturing costs 40,360 Add: Work in process inventory, beginning Total cost of work in process Less: Work in process inventory, ending Cost of goods manufactured 40,360 $ 40,360 < Required 1 Required 2 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute gross profit. Gross profit < Required 1 Required 2