Sales Direct labour cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 657,000 92,000 134,000 102,000 45,000 212,000 224,000 Inventories: Raw materials Work in process Finished goods Beginning End of of Year Year $ 8,200 $10,200 5,200 20,200 70,200 25,200 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. 2. Prepare a schedule of cost of goods sold