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 $ 32,000 $ 4,730 $ 59,200 $ 87,800 $ 4,090 Inventories Beginning Ending Raw materials $ 10,800 $ 18,900 Work in process $ 55,500 $ 65,500 Finished goods $ 33,100 $ 44,000 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. 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. Required 1 Required 2 A Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overappli Goods Sold. Primare Corporation Schedule of Cost of Goods Sold Beginning finished goods inventory Add: Cost of goods manufactured $ 33,100 387,300 Cost of goods available for sale Less: Ending finished goods inventory Unadjusted cost of goods sold 259,500 44,000 215,500 < Required 1 Required 2 > Required 1 Required 2 Prepare a schedule of cost of goods manufactured for the month. kin 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 Direct materials used in production Direct labor Manufacturing overhead Total manufacturing costs added to production Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured $ 10,800 32,000 42,800 (18,900) 23,900 $ 23,900 59,200 87,800 $ 55,500 170,900 226,400 (65,500) $ 387,300