Crunchem Cereal Company incurred the following actual costs during 20x1. Direct material used Direct labor Manufacturing overhead $280,000 140,000 294,000 The firm's predetermined overhead rate is 210 percent of direct-labor cost. The January 1 inventory balances were as follows: Raw material Work in process Finished goods $30,000 39,000 44,000 Each of these inventory balances was 10 percent higher at the end of the year.

Part 1 of 2 5.55 points 1 Mc Exercise 3-30 Part 1 Required: 1. Prepare a schedule of cost of goods manufactured for 20x1. Answer is complete but not entirely correct. 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 use Less: Raw-material inventory, December 31 Raw material used Manufacturing overhead Direct labor Total manufacturing costs Add Work-in-process inventory, January 1 Subtotal Less: Work-in-process inventory, December 31 Cost of goods manufactured Os 0$ > 30,000 283,000 313,000 33.000 Prev $ 280,000 140.000 294,000 $714,000 39,000 $ 753,000 42,900 $ 710,100 1 2 of 9 Next > Return to qu