Required information

[The following information applies to the questions displayed below.] Crunchem Cereal Company incurred the following actual costs during 20x1.

Direct material used	$	270,000
Direct labor		120,000
Manufacturing overhead		252,000

The firms predetermined overhead rate is 210 percent of direct-labor cost. The January 1 inventory balances were as follows:

Raw material	$	32,000
Work in process		40,000
Finished goods		44,000

Each of these inventory balances was 10 percent higher at the end of the year.

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 inventory, January 1	$32,000
Add: Purchases of raw material
Raw material available for use	$32,000
Less: Raw-material inventory, December 31	35,200
Raw material used		$(3,200)
Direct labor		120,000
Manufacturing overhead		252,000
Total manufacturing costs		$368,800
Add: Work-in-process inventory, January 1		40,000
Subtotal		$408,800
Less: Work-in-process inventory, December 31		44,000
Cost of goods manufactured		$364,800

2. What is the purchases of raw materials AND cost of goods sold for the year?