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pls fix my mistakes!! ASAP:) Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials used in
pls fix my mistakes!! ASAP:)
Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials used in production $ 31,000 $ 4,700 Direct labor $ 59,200 Manufacturing overhead applied to work in process Underapplied overhead $ 88,100 $ 4,140 Inventories Raw materials Work in process Finished goods Beginning. $ 10,800 $ 55,500 Ending $ 19,000 $ 65,500 $ 33,700 $ 42,400 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 over closed to Cost of Goods Sold. ks Window Help Sh 0 ezto.mheducation.com 3 Homework i Saved Help Savi rk mode: This shows what is correct or incorrect for the work you have completed so far. It completion. R Prepare a schedule of cost of goods manufactured for the month. Primare Corporation Schedule of Cost of Goods Manufactured Beginning work in process inventory $ 55,500 Direct materials: Beginning raw materials inventory $10,800 Add: Purchases of raw materials 31,000 Total raw materials available 41,800 Less: Ending raw materials inventory 19,000 Raw materials used in production 21,900 4,700 Less: Indirect materials used in production Direct materials used in production Manufacturing overhead Direct labor Total manufacturing costs added to production Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured Required 1 2 of 4 $ 17,200 88,100 59,200 $ Required 2 > Next > 164,500 220,000 65,500 7,090 x Prepare a schedule of cost of goods sold for the month. Assume the undera Goods Sold. Primare Corporation Schedule of Cost of Goods Sold 33,700 88,100 X Beginning finished goods inventory Add: Cost of goods manufactured Cost of goods available for sale Less: Ending finished goods inventory 164,500 X 42,400 Unadjusted cost of goods sold 42,400 X Add: Underapplied overhead 4,140 Adjusted cost of goods sold $ 316,240 X $ Step by Step Solution
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