1- Primare Corporation has provided the following data concerning last months manufacturing operations. Purchases of raw materials $ 32,000 Indirect materials included in manufacturing overhead $ 4,920 Direct labor $ 59,900 Manufacturing overhead applied to work in process $ 88,800 Underapplied overhead $ 4,120 Inventories Beginning Ending Raw materials $ 10,100 $ 18,700 Work in process $ 55,600 $ 68,600 Finished goods $ 34,000 $ 42,200 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.

2- The following data from the just completed year are taken from the accounting records of Mason Company: Sales $ 659,000 Direct labor cost $ 86,000 Raw material purchases $ 133,000 Selling expenses $ 108,000 Administrative expenses $ 42,000 Manufacturing overhead applied to work in process $ 208,000 Actual manufacturing overhead costs $ 223,000 Inventories Beginning Ending Raw materials $ 8,300 $ 10,100 Work in process $ 5,600 $ 20,800 Finished goods $ 79,000 $ 25,100 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. 2. Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. 3. Prepare an income statement.