Reference no: EM131817071

Wasik Company had the following inventory balances at the beginning and end of August 2013:

                                                                                                August 1          August 31

Raw material inventory                                                               58,000                84,000

Work in Process Inventory                                                        372,000              436,000

Finished Goods Inventory                                                          224,000             196,000

All raw material is direct to the production process. The following information is also available about August manufacturing costs:

Cost of raw material used         612,000

Direct labor cost                       748,000

Manufacturing overhead            564,000

a.) Calculate the cost of goods manufactured for August

b.) Determine the cost of goods sold for August.