National Manufacturing Company had the following account balances for the quarter ending December 31,2020 unless otherwise provided:

Work-in-process inventory (January 1) $ 140,400

Work-in-process inventory (March 31) 171,000

Finished goods inventory (January 1) 540,000

Finished goods inventory (March 31) 510,000

Direct materials used 378,000

Indirect materials used 84,000

Direct manufacturing labor 480,000

Indirect manufacturing labor 186,000

Property taxes on manufacturing plant building 28,800

Salespersons' company vehicle costs 12,000

Depreciation of manufacturing equipment 264,000

Depreciation of office equipment 123,600

Miscellaneous plant overhead 135,000

Plant utilities 92,400

General office expenses 305,400

Marketing distribution costs 30,000

Required:

a. Prepare a cost of goods manufactured schedule for the quar b. Prepare a cost of goods sold schedule for the quarter.

Answer:

a. Massinger Manufacturing Company Cost of Goods Manufactured Schedule For quarter ending March 31

Direct materials used $ 378,000

Direct manufacturing labor 480,000

Manufacturing overhead

Depreciation of manufacturing equipment $264,000

Indirect manufacturing labor 186,000

Indirect materials 84,000

Miscellaneous plant overhead 135,000

Plant utilities 92,400

Property taxes on building 28,800 790,200

Manufacturing costs incurred $1,648,200

Add beginning work-in-process inventory 140,400

Total manufacturing costs $1,788,600

Less ending work-in-process inventory 171,000

Cost of goods manufactured $1,617,600

Do I answer a question correct or wrong? If wrong, give me the solution to the correct answer