Question
Parmitan Corporation has provided the following data concerning last months manufacturing operations. Purchases of raw materials $ 53,000 Indirect materials included in manufacturing overhead $
Parmitan Corporation has provided the following data concerning last months manufacturing operations. Purchases of raw materials $ 53,000 Indirect materials included in manufacturing overhead $ 8,000 Direct labor $ 62,000 Manufacturing overhead applied to work in process $ 41,000 Underapplied overhead $ 8,000 Beginning Ending Inventories: Raw materials $ 24,000 $ 6,000 Work in process $ 41,000 $ 38,000 Finished goods $ 86,000 $ 93,000 Required: 1. Prepare a schedule of cost of goods manufactured for the month. (Input all amounts as positive values.) 2. Prepare a schedule of cost of goods sold for the month.
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