Primare Corporation has provided the following data concerning last months manufacturing operations.

Purchases of raw materials	$ 31,000
Indirect materials used in production	$ 4,620
Direct labor	$ 58,000
Manufacturing overhead applied to work in process	$ 87,800
Underapplied overhead	$ 4,090

Inventories	Beginning	Ending
Raw materials	$ 12,000	$ 19,600
Work in process	$ 54,500	$ 66,200
Finished goods	$ 34,600	$ 43,900

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.

Primare Corporation
Schedule of Cost of Goods Manufactured
not attempted			not attempted
Direct materials:
Beginning raw materials inventoryselected answer correct	$12,000selected answer correct
Add: Purchases of raw materialsselected answer correct	31,600selected answer incorrect
Total raw materials available	43,600selected answer incorrect
Less: Ending raw materials inventoryselected answer correct	19,600selected answer correct
Raw materials used in production	24,000selected answer incorrect
Less: Indirect materials used in productionselected answer correct	4,620selected answer correct
Direct materials used in production		$19,380
Direct laborselected answer correct	not attempted	58,000selected answer correct
Manufacturing overheadselected answer correct	not attempted	87,800selected answer correct
Beginning raw materials inventoryselected answer incorrect	not attempted	54,500selected answer incorrect
Total manufacturing costs added to production			219,680
Total manufacturing costs to account for			219,680
Less: Ending work in process inventoryselected answer correct			66,200selected answer correct
Cost of goods manufactured			$153,480selected answer incorrect

Primare Corporation
Schedule of Cost of Goods Sold
Beginning finished goods inventoryselected answer correct	$34,600selected answer correct
Add: Cost of goods manufacturedselected answer correct	153,480selected answer incorrect
Cost of goods available for saleselected answer correct	188,080selected answer incorrect
Less: Ending finished goods inventoryselected answer correct	43,900selected answer correct
Unadjusted cost of goods soldselected answer correct	144,180selected answer incorrect
Add: Underapplied overheadselected answer correct	4,090selected answer correct
Adjusted cost of goods soldselected answer correct	$148,270