1. Jack Co. creates, produces, and sells CPA review courses for individual use. The following information is provided:
   1. Conversion cost was $360,000 and was four times the prime cost
   2. Direct materials used in production equaled $75,000
   3. Cost of goods manufactured was $415,000
   4. Beginning work in process is one-half the cost of ending work in process
   5. There are no beginning or ending inventories for direct materials
   6. Cost of goods sold was 90 percent of cost of goods manufactured
   7. Beginning finished goods inventory was $16,500

Required:

1. Prepare the cost of goods manufactured for the current year
2. Prepare the cost of goods sold for the current year