Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribed
image text in transcribed
image text in transcribed
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 waterials Indirect materials used in production Direct labor Manufacturint overhead applied to work in process Under applied overhead Inventore Beton Ending Raw materials 1 10,300 $ 15,000 Work in process $ 55,100 67,100 Finished goods $ 35,700 $ 43,300 30,000 4,190 $50,00 5.67,700 $4,040 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. Reguir Required 2 Prepare a schedule of cost of goods manufactured for the month Primate Corporation Schoute of Cost of Goods Manufactured 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 5 0 Require1 Required 2 Prepare a schedule of cost of goods manufactured for the month. Primare Corporation Schedule of Cost of Goods Manufactured 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 $ 0 0 0 Total manufacturing costs added to production Total manufacturing costs to account for Less Ending work in process inventory Cost of goods manufactured Rosulied Required 2 >

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting At War The Politics Of Military Finance

Authors: Warwick Funnell, Michele Chwastiak

1st Edition

1138616737, 9781138616738

More Books

Students also viewed these Accounting questions