Exercise $3-3($Algo$)$ Schedules of Cost of Goods Manufactured and Cost of Goods Sold $[$LO$3-3]$

Primare Corporation has provided the following data concerning last month's manufacturing operations.

Purchases of raw materials

Indirect materials used in production

Direct labor

Manufacturing overhead applied to work in process

Underapplied overhead

$$32,000$

$$4,870$

$$59,100$

$$87,200$

$$4,010$

Required:

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

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

Goods Sold.

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