Cost of goods manufactured and cost of goods sold The following table summarizes the beginning and ending inventories of Decatur Manufacturing, Inc., for the month of March:
| Feb. 28 | Mar. 31 |
Raw materials | $ 53,600 | $ 44,160 |
Work in process | 114,080 | 103,680 |
Finished goods | 75,520 | 67,040 |
Raw materials purchased during the month of March totaled $198,240. Direct labor costs incurred totaled $499,520 for the month. Actual and applied manufacturing overhead costs for March totaled $301,440 and $307,680, respectively. Over/ underapplied overhead is written off to cost of goods sold at the end of the year in December.
Required:
a.Calculate the cost of goods manufactured for March.
b. Calculate the cost of goods sold for March.
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