Pan Demic, Inc. $($PDI$)$ manufactures and sells cast iron skillets. A finished skillet sells for $$40$ and costs $$15$ to manufacture. PDI uses one raw material, iron ore, which is buys for $$8/$pound$.$ Skillet Forgers heat the iron ore and form it into skillets. Forgers are paid $$55/$hour$.$

This is PDI's second period of operations. You'll need to use information from Period $1$ above to complete the charts for Period $2.$

During the period, PDI purchased $800$ pounds of Iron Ore. At the end of the period, they transferred $1,000$ pounds of Iron Ore to WIP. They used $150$ hours of direct labor and incurred $$12,400$ of Factory Overhead.

PDI ended the period with $$4,850$ in WIP and $210$ skillets in Finished Goods.

Prepare the Schedule of Cost of Goods Manufactured for PDI.

Do not use dollar signs. Use whole numbers only $($no decimal places$)$

PDI Schedule of Cost of Goods Manufactured

errals

Account

Dollar Amount

Direct Materials Used

$1680$

Direct Labor

$8250$

Factory Overhead

$12\mathrm{.}400$

Manufacturing Costs for the Period

WIP Beginning Inventory

WIP Ending Inventory

Total Cost of Good

Finished Goods Beginning Inventory

$3,150$

Cost of Goods Manufactured

Cost of Goods Available for Sale

Finished Goods Ending Inventory

Cost of Goods Sold

Based on your work above for Period $2,$ compete the Inventory section of the Balance Sheet as of the end of the period.

Do not use the dollar sign $($$$).$ Use whole numbers only $($no decimal places$).$

PDI Balance Sheet

Tutoring

Account

Amount

Raw Materials Inventory

WIP Inventory

Finished Goods Inventory

$3,150$

Total Inventory