1. The following data have been taken from the accounting records of Graham Corporation for the year ended December 31, 2018.

Total manufacturing overhead costs incurred		$338,000
Manufacturing overhead applied to Work in
Process		345,000
Purchases of raw materials		235,000
Direct labor		135,000
Raw materials inventory - January 1, 2018		10,000
Raw materials inventory - December 31, 2018		15,000
Work in process inventory - January 1, 2018		20,000
Work in process inventory - December 31, 2018		35,000
Finished goods inventory - January 1, 2018		75,000
Finished goods inventory - December 31, 2018		90,000

Required

1. Prepare a Schedule of Cost of Goods Manufactured for the year.
2. Prepare a Schedule of Cost of Goods Sold for the year.