Required Information Exercise 3-30 Schedule of Cost of Goods Manufactured (LO 3-2, 3-4, 3-6) [The following information applies to the questions displayed below] Crunchem Cereal Company Incurred the following actual costs during 20x1. Direct material used $270, 303 Direct labor 130, 303 Manufacturing overhead 273, 030 The firm's predetermined overhead rate is 210 percent of direct-labor cost. The January 1 Inventory balances were as follows: Raw material $ 28, 809 Work in process 39, 309 Finished goods Each of these Inventory balances was 10 percent higher at the end of the year.Exercise 3-30 Part 1 Required: 1. Prepare a schedule of cost of goods manufactured for 20x1. CRUNCHEM CEREAL COMPANY Schedule of Cost of Goods Manufactured For the Year Ended December 31, 20x1 Direct material: Raw material used Total manufacturing costs Subtotal Cost of goods manufacturedExercise 3-30 Part 2 2. What was the cost of goods sold for the year? Cost of goods sold