pay attention to the REQUIRED section within each question 1-4
Primare Corporation has provided the following data concerning last month's manufacturing operations. 1 $31,000 $4,950 $58,700 $87,900 $ 4,160 Indirect materials included in manufacturing overhead Manufacturing overbead applied to work in process Underapplied overhead ing 11,900 19,500 $55,000 66,300 $ 34,700 43,500 Work in process Finished goods 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 the 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 tion Schedule of Cost of Goods Manufactured Prev 1of 4 Next> of cost of goods sold for the is closed to Cost Goods Sold. Next > ET The following cost data relate to the manufacturing activities of Chang Company during the just completed year 2 Manufacturing overhead costs incurred: $ 15,900 139,000 8,900 79,000 150,300 10,900 $404,000 Indirect labor ty taxes, factory Utilities, factory Depreciation, factory factory Total actual manufacturing overhead costs incurred Other costs incurred: Purchases of raw materials (both direct and indirect) Direct labor cost $409,000 $69,000 Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $ 20,900 $ 30,900 40,900 $ 70,900 The company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. A total of 20,600 machine-hours were used during the year 1. Compute the amount of underapplied or overapplied overhead cost for the year. 2. Prepare a schedule of cost of goods manufactured for the year Complete this question by entering your answers in the tabs below. Next > K Prev2 of 4 The following information is taken from the accounts of Latta Company. The entries in the T-accounts are summaries of the transactions that affected those accounts during the year 3 387.840 Bal. 48,000 (d) 718,000 44,000 19,160 (c)718,000 Bal. 267,000 86,000 387.840 Bal Bal 42,000 t of Goods Sold (d) 644,000 The overhead that had been applied to production during the year is distributed among Work in Process, Finished Goods, and Cost of Goods Sold as of the end of the year as follows Work in Process, ending 20,160 Finished Goods, ending Cost of Goods Sold Overhead applied 58,560 309,120 387,840 ress00 For example, of the $42,000 ending balance in work in process, $20,160 was overhead that had been applied during the year Required 1. Identify reasons for entries (a) through (d). 2. Assume that the underapplied or overapplied overhead is closed to Cost of Goods Sold. Prepare the necessary journal entry 3. Assume that the underapplied or overapplied overhead is closed proportionally to Work in Process, Finished Goods, and Cost of Goods Sold. Prepare the necessary journal entry. Complete this question by entering your answers in the tabs below K Prev 3 of 4 Next > Compute the amount of overhead cost that would be applied to Work in Process for the year the amount of underapplied or overapplied overhead for the year and show the balance in your Manufacturing of (Indirect labor) 40,000 4 of 4
