Purchases of raw materials	$	31,000
Indirect materials included in manufacturing overhead	$	4,900
Direct labor	$	58,100
Manufacturing overhead applied to work in process	$	88,000
Underapplied overhead	$	4,100

Inventories	Beginning		Ending
Raw materials	$	10,000	$	18,400
Work in process	$	55,200	$	65,000
Finished goods	$	33,000	$	42,500

Required:

1. Prepare a schedule of cost of goods manufactured for the month.

2. Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold.