CGM; CGS

Wasik Company had the following inventory balances at the beginning and end of August 2013:

August 1August 31

Raw material inventory 58,00084,000

Work in Process Inventory 372,000 436,000

Finished Goods Inventory224,000 196,000

All raw material is direct to the production process. The following information is also available about August manufacturing costs:

Cost of raw material used 612,000

Direct labor cost 748,000

Manufacturing overhead564,000

a.) Calculate the cost of goods manufactured for August

b.) Determine the cost of goods sold for August.