Marvelous Marshmallow Company’s cost of goods sold for January was $690,000. January 31 work-in-process inventory was 90 percent of January 1 work-in-process inventory. Manufacturing overhead applied was 50 percent of direct-labor cost. Other information pertaining to the company’s inventories and production for the month of January is as follows:

Beginning inventories, January 1:

Raw material................................................................ $ 34,000

Work in process............................................................ 80,000

Finished goods............................................................. 204,000

Purchases of raw material during January................... 226,000

Ending inventories, January 31:

Raw material................................................................ 52,000

Work in process........................................................... ?

Finished goods............................................................ 210,000

Required:

1. Prepare a schedule of cost of goods manufactured for the month of January.

2. Prepare a schedule to compute the prime costs (direct material and direct labor) incurred during January.

3. Prepare a schedule to compute the conversion costs (direct labor and manufacturing overhead) charged to work in process during January.