Cells highlighted in green contain a drop-down list; select the appropriate account from the list. When...

   

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Cells highlighted in green contain a drop-down list; select the appropriate account from the list. When the calculations for Cost of goods manufactured & Cost of goods sold are correct, the cells will change to yellow. Charles Ray, owner of Ray Enterprises, decides to diversify his business by also manufacturing computer workstation furniture. Work in process inventory, beginning Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending Direct materials used Direct labor Factory overhead $0 $540 $0 $350 $2,200 $900 $490 Required: 1. Prepare a schedule of cost of goods manufactured for Ray Enterprises for the month ended January 31, 2024. Ray Enterprises Schedule of Cost of Goods Manufactured For Month Ended January 31, 2024 Total manufacturing costs Total cost of goods in process Cost of goods manufactured 2. Prepare the cost of goods sold section of a partial income statement for Ray Enterprises for the month ended January 31, 2024. Cost of goods sold Goods available for sale Cost of goods sold Ray Enterprises Partial Income Statement For Month Ended January 31, 2024 Cells highlighted in green contain a drop-down list; select the appropriate account from the list. When the calculations for Cost of goods manufactured & Cost of goods sold are correct, the cells will change to yellow. Charles Ray, owner of Ray Enterprises, decides to diversify his business by also manufacturing computer workstation furniture. Work in process inventory, beginning Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending Direct materials used Direct labor Factory overhead $0 $540 $0 $350 $2,200 $900 $490 Required: 1. Prepare a schedule of cost of goods manufactured for Ray Enterprises for the month ended January 31, 2024. Ray Enterprises Schedule of Cost of Goods Manufactured For Month Ended January 31, 2024 Total manufacturing costs Total cost of goods in process Cost of goods manufactured 2. Prepare the cost of goods sold section of a partial income statement for Ray Enterprises for the month ended January 31, 2024. Cost of goods sold Goods available for sale Cost of goods sold Ray Enterprises Partial Income Statement For Month Ended January 31, 2024