III. Korg, Inc. has provided the following data concerning the last months manufacturing operations: $45,000 Purchase of raw materials Indirect materials included in manufacturing overhead Direct Labor Under-applied Overhead $7,500 $130,000 $6,000 Inventories: Raw Materials Work in Process Finished Goods Beginning $18,000 $84,000 $52,000 Ending $27,000 $97,500 $63,000 Required: 1. (20 pts.) Prepare a Schedule of Cost of Goods Manufactured for the month. III. (con't) 2. (20 points) Prepare a Schedule of Cost of Goods Sold for the month. Assuming the under- applied overhead is closed to cost of goods sold