Ch 3 Problems i Saved Help Save & Exit Submit Check my work Required Information The following information applies to the questions displayed below) Part 1 of 2 Crunchem Cereal Company incurred the following actual costs during 20x1. Direct material used $285 , 000 9.09 Direct labor 140,000 Manufacturing overhead 294,000 points 8 02 23:29 The firm's predetermined overhead rate is 210 percent of direct-labor cost. The January 1 inventory balances were as follows: Raw material $32, 000 Work in process 39,000 Book Finished goods 42,000 Print Each of these Inventory balances was 10 percent higher at the end of the year. References 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 Add: Purchases of raw material Raw material available for uso Flaw material used $ Total manufacturing costs Subtotal Loss: Work-in-process inventory, December 31 Cost of goods manufactured Mc Grav Prev 8 9 of 11 Next >