Use the following information to complete a schedule of cost of goods manufactured and a cost of goods sold schedule: Given Info Beginning $8,000 $16,000 $40,000 Ending $13,000 $21,000 $60,000 Raw Materials Inv. Work in Process Inv. Finished Good Inv. Purchase of Raw Materials Direct Labor Manufacturing Overhead Applied $100,000 $80,000 $110,000 Calculate Direct Materials: Direct Materials Calculation Costs Raw Materials, Beginning $ +Raw Materials Purchased $ =Raw Materials Available GA -Raw Materials, Ending $ =Direct Materials $ Calculate Total Manufacturing Costs: Total Manufacturing Cost Calculation Costs Direct Materials $ $ +Direct Labor +Manufacturing Overhead Applied $ = Total Manufacturing Costs $ Calculate Costs of Goods Manufactured: Cost of Goods Manufactured Calculation Costs Work-in-process, Beginning $ +Total Manufacturing Costs ta =Work-in-Process Available $ $ -Work-in-process, Ending =Cost of Goods Manufactured $ $ Calculate Cost of Goods Sold: Cost of Goods Sold Calculation Costs Finished Goods, Beginning $ +Cost of Goods Manufactured $ A Cost of Goods Available for Sale -Finished Goods, Ending =Cost of Goods Sold $