Classic Sound is a s tart-up company that produces vinyl records for numerous record labels worldwide. The company has two full-time employees working in the production department while the CEO spl its her time 80/20% between developing new business and overseeing the production process. Information taken from the accounting records for the first three months of operations is shown below.

Required:

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

2. What types of expenses are likely included in the total manufacturing overhead cost of $30,000 incurred for the first three months of operation?

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Beginning raw materials inventory. Purchases of raw materials... 50,000 Ending raw materials inventory Direct labour.... Manufacturing overhead.. Beginning work in process inventory Ending work in process inventory. Purchase of production equipment Rent for production facility.... 25,000 40,000 30,000 5,000 100,000 9,000