EX 3-30 (Algo) Schedule of Cost of Goods Manufactured (LO 3-2, 3-4, 3-6) [The following information applies to the questions displayed below.] Crunchem Cereal Company incurred the following actual costs during 20x1. Direct material used Direct labor Manufacturing overhead $ 275,000 130,000 273,000 The firm's predetermined overhead rate is 210 percent of direct-labor cost. The January 1 inventory balances were as follows: s Raw material Work in process Finished goods $ 30,000 40,000 45,000 Each of these inventory balances was 10 percent higher at the end of the year. EX 3-30 (Algo) Part 1 Prepare a schedule of cost of goods manufactured... Required: 1. Prepare a schedule of cost of goods manufactured for 20x1. Required: 1. Prepare a schedule of cost of goods manufactured for 20x1. Direct material: CRUNCHEM CEREAL COMPANY Schedule of Cost of Goods Manufactured For the Year Ended December 31, 20x1 Raw-material inventory, January 1 Add: Purchases of raw material Raw material used + T 30,000 $ 30,000 $ 30,000 Total manufacturing costs $ 30,000 Subtotal $ 30,000 Cost of goods manufactured $ 30,000