Required $1$

Required $2$

Compute gross profit.A manufacturing company reports the following for the period:

Inventories Beginning Ending

Raw materials $ $19,420$ $ $13,400$

Work in process $10,80012,600$

Finished goods $13,86010,030$

Activities for the period

Raw materials purchases $ $9,500$

Direct materials used $15,520$

Direct labor used $10,600$

Overhead applied $12,440$

Sales $45,600$

Prepare a schedule of cost of goods manufactured.

Compute gross profit.