This Solution For schedule of cost of goods manufactured & JZ is a musician

Problem 1 Required: Use the following information to complete the below schedule of cost of goods manufactured. (25 points) Purchases of raw materials $120,000.00 Raw materials available for use $148,000.00 Cost of direct raw materials used $124,000.00 Manufacturing overhead $24,000.00 Total manufacturing costs $310,000.00 Ending work-in-process inventory $(46,000.00)Cost of goods manufactured $306,000.00 Schedule of Cost of Goods Manufactured Beginning inventory, raw materials Plus: Purchases of raw materials Raw materials available for use $- Less: Ending raw materials inventory Cost of direct raw materials used $- Direct labor Manufacturing overhead Total manufacturing costs $- Plus: Beginning work-in-process inventory Total work in process $- Less: Ending work-in-process inventory Cost of goods manufactured $- Problem 2 Required: JZ is a musician who is considering whether to independently produce and sell a CD. JZ estimates fixed costs of $10,000 and variable costs of $4.00 per unit. The expected selling price is $12 per CD. What is JZ’s break-even point in units and dollars? Break-even point in units Fixed Costs Contribution margin per unit Break-even point in dollars Break-even point in units * selling price