Mgr. Acct. Chapter 3 Homework 9) Shantz Corporation has provided the following data concerning last month's operations. Purchases of raw materials $32,000 Indirect materials included in manufacturing overhead $5,000 Direct labor cost $58,000 Manufacturing overhead applied to Work in Process $99,000 Overapplied overhead $2,000 Beginning Ending Raw materials inventory $12,000 $16,000 Work in process inventory $48,000 $53,000 Finished goods inventory $41,000 $47,000 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. Required: a. Prepare a Schedule of Cost of Goods Manufactured for the month. b. Prepare a Schedule of Cost of Goods Sold for the month.