Managerial accounting

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 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. Beginning raw materials inventory $ 0 Purchases of raw materials 50, 500 Ending raw materials inventory 25, 250 Direct labour 40, 450 Manufacturing overhead 30, 350 Beginning work in process inventory Ending work in process inventory 5, 100 Purchase of production equipment 105, 000 Rent for production facility 9 , 150 Required: 1. Prepare a schedule of cost of goods manufactured for the company for the month. (Do not leave any empty spaces; input a 0 wherever it is required.)