3.

Primare Corporation has provided the following data concerning last months manufacturing operations.

Purchases of raw materials	$ 30,000
Indirect materials used in production	$ 4,650
Direct labor	$ 59,300
Manufacturing overhead applied to work in process	$ 88,600
Underapplied overhead	$ 4,150

Inventories	Beginning	Ending
Raw materials	$ 11,600	$ 19,700
Work in process	$ 54,900	$ 69,600
Finished goods	$ 34,300	$ 43,200

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.

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

Primare Corporation
Schedule of Cost of Goods Manufactured
Direct materials:
Total raw materials available
Raw materials used in production
Direct materials used in production		$0
Total manufacturing costs added to production			0
Total manufacturing costs to account for			0
Cost of goods manufactured

Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold.

Primare Corporation
Schedule of Cost of Goods Sold

4.

Helix Corporation uses the weighted-average method in its process costing system. It produces prefabricated flooring in a series of steps carried out in production departments. All of the material that is used in the first production department is added at the beginning of processing in that department. Data for May for the first production department follow:

	Units	Percent Complete
		Materials	Conversion
Work in process inventory, May 1	76,000	100%	40%
Work in process inventory, May 31	56,000	100%	25%

Materials cost in work in process inventory, May 1	$ 60,000
Conversion cost in work in process inventory, May 1	$ 17,800
Units started into production	258,000
Units transferred to the next production department	278,000
Materials cost added during May	$ 133,720
Conversion cost added during May	$ 256,680

Required:

1. Calculate the first production department's equivalent units of production for materials and conversion for May.

2. Compute the first production department's cost per equivalent unit for materials and conversion for May.

3. Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for May.

4. Compute the first production department's cost of the units transferred to the next production department for materials, conversion, and in total for May.

Calculate the first production department's equivalent units of production for materials and conversion for May.

	Materials	Conversion
Equivalent units of production

Compute the first production department's cost per equivalent unit for materials and conversion for May. (Round your answers to 2 decimal places.)

	Materials	Conversion
Cost per equivalent unit

Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for May. (Round your intermediate calculations to 2 decimal places.)

	Materials	Conversion	Total
Cost of ending work in process inventory

Compute the first production department's cost of the units transferred to the next production department for materials, conversion, and in total for May. (Round your intermediate calculations to 2 decimal places.)

	Materials	Conversion	Total
Cost of units completed and transferred out