EXERCISE 3–3 Schedules of Cost of Goods Manufactured and Cost of Goods Sold LO3–3 Primare Corporation has provided the following data concerning last month’s manufacturing operations.

. . $30,000

$5,000

. . . . . . . . . . . . . . . $58,000

$87,000

. . . . . $4,000 Inventories Beginning Ending

. . . . . . . . $12,000 $18,000

. . . . . . $56,000 $65,000

. . . . . . . $35,000 $42,000 Required:

1. Prepare a schedule of cost of goods manufactured for the month.

2. Prepare a schedule of cost of goods sold for the month.

Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold.