Exercise 3-3 (Algo) 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. Purchases of raw materials Indirect materials used in production Direct labor Manufacturing overhead applied to work in process. Underapplied overhead Inventories Work in process Raw materials Finished goods Required: Beginning Ending $ 54,600 $ 68,100 $ 11,300 $ 20,000 $ 33,100 $ 43,800 $ 31,000 $ 4,600 $ 59,700 $ 87,500 $ 4,030 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a schedule of cost of goods manufactured for the month. Primare Corporation Schedule of Cost of Goods Manufactured i Beginning work in process inventory ST $ 54,600 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a schedule of cost of goods manufactured for the month. Primare Corporation Schedule of Cost of Goods Manufactured Beginning work in process inventory Direct materials: Beginning raw materials inventory Add: Purchases of raw materials Total raw materials available Less: Ending raw materials inventory Raw materials used in production Less: Indirect materials used in production Direct materials used in production Manufacturing overhead Direct labor Total manufacturing costs added to production Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured $ 11,300 31,000 42,300 20,000 22,300 4,600 $ 17,700 59,700 87,500 $ 54,600 164,900 219,500 68,100 $ 151,400 Return Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 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. Primare Corporation Schedule of Cost of Goods Sold Beginning finished goods inventory Add: Cost of goods manufactured Cost of goods available for sale Less: Ending finished goods inventory Unadjusted cost of goods sold Less: Underapplied overhead i Adjusted cost of goods sold $ 33,100 151,400 184,500 43,800 140,700 * 4,030 $ 136,670