YZA Manufacturing Company produces a single product. The following data is for the month of January:
Direct materials used: $405,000
Direct labor cost: $380,000
Variable manufacturing overhead: $350,000
Fixed manufacturing overhead: $360,000
Beginning finished goods inventory: $355,000
Ending finished goods inventory: $365,000
Beginning work in process inventory: $345,000
Ending work in process inventory: $350,000
Requirements:
a) Calculate the total manufacturing cost.
b) Calculate the cost of goods manufactured.
c) Calculate the cost of goods sold.
d) Calculate the gross profit.
e) Prepare a schedule of cost of goods manufactured.
f) Prepare a schedule of cost of goods sold.