Alexsandar Company provided the following account balances for the year ended December 31 (all raw materials are used in production as direct materials) $217,000 Selling expenses $263,000 Purchases of raw materials Direct labor Administrative expenses $151,000 Manufacturing overhead applied to work in process $336,000 $359,000 Total actual manufacturing overhead costs Inventory balances at the beginning and end of the year were as follows Beginning of Year End of Year $59,000 $30,000 Raw materials $29,000 Work in process $37,000 Finished goods The total manufacturing costs for the year were $685,000; the cost of goods available for sale totaled $725,000, the unadjusted cost of goods sold totaled $663,000, and the net operating income was $39,000. The company's overapplied or underapplied overhead is closed entirely to cost of goods sold (Hint: Prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.) Required: a. Prepare a schedule of cost of goods manufactured. Alexsandar Company Schedule of Cost of Goods Manufactured For the Year Ended December 31 Direct Materials: S 59.000 Raw materials inventory, beginning Add: Purchase of raw materials 263,000 Total raw materials available 322,000 30.000 Less: Rawmaterials inventory, ending 292,000 Raw materials used in production Direct labor 336,000 Manufacturing overhead applied to work in process 628,000 Total manufacturing cost Add: Beginning work in process inventory 628,000 628,000 Cost of goods manufactured