DM $57,500 DL $65,000 MO $15,000 PC S6,000 b. Calculate the cost to produce one racquet. P2.51B (LO 4) Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows: Indicate the missing amounts of different cost items, and prepare a condensed cost of goods manufactured schedule, an income statement, and a partial balance sheet. Case 1 2 Direct Materials Used $ 6,300 $ (g) Direct Labour 3,000 4.000 Manufacturing Overhead 6,000 5,000 Total Manufacturing Costs (a) 16,000 Beginning Work in Process Inventory 1,000 (h) Ending Work in Process Inventory (b) 2.000 Sales 22,500 0 Sales Discounts 1,500 1,200 Cost of Goods Manufactured 15,800 20,000 Beginning Finished Goods Inventory (c) 5,000 Goods Available for Sale 18,300 0) Cost of Goods Sold (d) Ending Finished Goods Inventory 1,200 2,500 Gross Profit (e) 6,000 Operating Expenses 2,700 (1) Net Income () 2.200 Assume that in Case 1 the other items in the current assets section are as follows: cash $3,000, receivables (net) $10,000, raw materials $700, and prepaid expenses $200. Instructions a. Indicate the missing amount for each letter. b. Prepare a condensed cost of goods manufactured schedule for Case 1. c. Prepare an income statement and the current assets section of the balance sheet for Case 1. Current assets $15,600 P2.52B (LO 4) The following data were taken from the records of Ruiz Manufacturing Company for the year ended December 31, 2020