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Please answer all parts with detailed calculations and good formatting and make sure the answer is 100% correct, else leave it for the other tutor
Please answer all parts with detailed calculations and good formatting and make sure the answer is 100% correct, else leave it for the other tutor to answer. Otherwise i will downvote the answer and report it for unprofessionalism for sure. Please don't use AI or Chat GPT also make sure there is no plagiari.sm.
Classic Sound is a startup company that produces vinyl records for numerous record labels worldwide. The company has two fulltime 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 rst three months of operations is shown below. Beginning raw materials inventory $ 0 Purchases of raw materials 56,500 Ending raw materials inventory 28,250 Direct labour 45,850 Manufacturing overhead 34,550 Beginning work in process inventory 0 Ending work in process inventory 6,300 Purchase of production equipment 165,000 Rent for production facility 10,950 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.) Direct materials: Raw materials used in production Total manufacturing costs Cost of goods manufactured 2. What types of expenses are likely included in the total manufacturing overhead cost of $34,550 incurred for the first three months of operation? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) D Selling expense El Administrative expense I: Ending work in process inventory D Rent for the production facility I: Depreciation on the production equipment I: Insurance on the production equipment El Indirect materials used in producing records I: Indirect labour related to the CEO's supervision of the production process (20% of her time). D Indirect labour related to production facility repair, maintenance, and securityStep by Step Solution
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