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 Account Direct Materials Used Direct Labor Factory Overhead Manufacturing Costs for the Period WIP Beginning Inventory Dollar Amount 8000 8250 12,400 16250 0 4850 WIP Ending Inventory Total Cost of Goods Manufactured (Transferred 23800 to Finished Goods) 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 $4,850 in WIP and 210 skillets in Finished Goods. Prepare the Schedule of Cost of Goods Sold for PDI. Do not use dollar signs. Use whole numbers only (no decimal places) PDI Schedule of Cost of Goods Sold Account Finished Goods Beginning Inventory Cost of Goods Manufactured Dollar Amount 3,150 23,800 Cost of Goods Available for Sale 26,950 Finished Goods Ending Inventory 3,150 Cost of Goods Sold 23,800 Based on your work above for Period 2, compete the Inventory section of the Balance Sheet as of the end of the period. Do not use the dollar sign ($). Use whole numbers only (no decimal places). Account Raw Materials Inventory WIP Inventory Finished Goods Inventory Total Inventory PDI Balance Sheet Amount 3,150 Based on your work above for Period 2, compete the Income Statement through Gross Profit for PDI Do not use the dollar sign ($). Use whole numbers only (no decimal places). Sales Cost of Goods Sold Gross Profit Account PDI Income Statement Amount