Lang products had the following beginning and ending inventory balances for April 2009.
Raw Material Inventory $18,000 $20,800
Work in Process Inventory 85,200 50,800
Finished Goods Inventory 43,200 14,700
All raw materials are considered direct to the manufacturing process.
During April, the company purchased $260,000 of raw materials. Direct
labor cost for the month was $342,000; workers are paid $9.50 per hour.
Overhead is applied at the rate of $12.50 for each direct labor hour.
a. Prepare the Schedule of Cost of Goods Manufactured.
b. Calculate Cost of Goods Sold for April 2009.