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UCW Manufacturing Company makes specialty tools. In July 2 0 2 3 , UCW incurred manufacturing costs of $ 3 , 0 0 0 ,

UCW Manufacturing Company makes specialty tools. In July 2023, UCW incurred manufacturing costs of $3,000,000 for direct materials, direct labour, and overhead. 30% of the total costs represents overhead applied. The overhead rate is $1 for every $0.50 of direct labour costs incurred. Inventory balances were:July 1July 31Raw materials$120,000$ 100,00095,000Work in process Finished goods150,000180,000Instructionsa) Determine the cost of raw materials purchased in July.b) Prepare a cost of goods manufactured schedule for July 2023.

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