Exercise $2-4$ Prepare a Schedule of Cost of Goods Manufactured $[$LO$4]$

Classic Sound is a start$-$up company that produces vinyl records for numerous record labels worldwide. The company has two full$-$time employees working in the production department while the CEO splits her time $\frac{80}{20}\%$ between developing new business and overseeing the production process. Information taken from the accounting records for the first three months of operations is shown below.

$\backslash$table$[[$Beginning naw materials inventory,$0],[$Purchases of raw materials,$$58,500$