The following data have been taken from the accounting recordsof Graham Corporation for the year ended December 31, 2019. Totalmanufacturing overhead costs incurred $338,000 Manufacturingoverhead applied to Work in Process 345,000 Purchases of rawmaterials 235,000 Direct labor 135,000 Raw materials inventory -January 1, 2019 10,000 Raw materials inventory - December 31, 201915,000 Work in process inventory - January 1, 2019 20,000 Work inprocess inventory - December 31, 2019 35,000 Finished goodsinventory – January 1, 2019 75,000 Finished goods inventory –December 31, 2019 90,000
a. Prepare a Schedule of Cost of Goods Manufactured for theyear.
b. Prepare a Schedule of Cost of Goods Sold for the year.
