The following table summarizes the beginning and ending inventories of Sears Co. For the month of October:

The following table summarizes the beginning and ending inventories of Sears Co. For the month of October:

Sept. 30 Oct. 31

Raw Materials $ 29, 700 $31,000

Work-in-process 65,800 61,000

Finished process 52,700 46,200

Raw materials purchased during the month of October totaled $112,300. Direct labor costs incurred totaled $234,800 for the month. Actual and applied manufacturing overhead costs for October totaled $145,100 and $149,400, respectively.

1) Calculate the cost of goods manufactured for October.

2) Calculate the cost of goods sold for October (ignore under/overapplied overhead)

The following table summarizes the beginning and ending inventories of Sears Co. For the month of October: