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 $31,000 Indirect materials used in production $ 4,520 Direct labor $ 58,300 Manufacturing overhead applied to work in process Underapplied overhead $ 87,400 $ 4,140 Inventories Raw materials Beginning $ 10,400 Ending $ 18,300 Work in process $ 54,100 $ 69,000 Finished goods $ 33,700 $ 42,800 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.