Reference no: EM132583265

Artistic Manufacturing Company had the following account balances for the quarter ending March 31, unless otherwise noted:

Work-in-process inventory (January 1)        $ 140,400

Work-in-process inventory (March 31)             171,000

Finished goods inventory (January 1)            540,000

Finished goods inventory (March 31)             510,000

Direct materials used                                    378,000

Indirect materials used                                    84,000

Direct manufacturing labor                                 480,000

Indirect manufacturing labor                                 186,000

Property taxes on manufacturing plant building         28,800

Salespersons' company vehicle costs                        12,000

Depreciation of manufacturing equipment                  264,000

Depreciation of office equipment                            123,600

Miscellaneous plant overhead                                 135,000

Plant utilities                                                        92,400

General office expenses                                         305,400

Marketing distribution costs                                      30,000

Required:

Question a. Prepare cost of goods manufactured schedule for the quarter.

Question b. Prepare cost of goods sold schedule for the quarter.