Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold. Primare Corporation Schedule of Cost of Goods Sold Beginning finished goods inventory Add: Cost of goods manufactured Cost of goods available for sale Less: Ending finished goods inventory Unadjusted cost of goods sold Add: Underapplied overhead Adjusted cost of goods sold Primare Corporation Schedule of Cost of Goods Manufactured Direct materials: Beginning raw materials inventory Add: Purchases of raw materials 11,300 Total raw materials available Less: Ending raw materials inventory 19,800 Raw materials used in production Less: Indirect materials used in production 4,780 Direct materials used in production $ (4,780) Direct labor 59,500 87,800 Manufacturing overhead Total manufacturing costs added to production Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured 142,520 142,520 68,200 Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials used in production Direct labor Manufacturing overhead applied to work in process Underapplied overhead Inventories Beginning Ending Raw materials $ 11,300 $ 19,800 Work in process $ 55,000 $ 68,200 Finished goods $ 34,700 $ 43,200 $ 32,000 $ 4,780 $ 59,500 $ 87,800 $ 4,160 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.