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

Purchases of raw materials	$ 31,000
Indirect materials used in production	$ 4,790
Direct labor	$ 58,800
Manufacturing overhead applied to work in process	$ 87,600
Underapplied overhead	$ 4,190

Inventories	Beginning	Ending
Raw materials	$ 10,700	$ 19,800
Work in process	$ 54,300	$ 68,900
Finished goods	$ 33,300	$ 43,100

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.

Direct materials:
Beginning raw materials inventoryselected answer correct	$10,700selected answer correct
Add: Purchases of raw materialsselected answer correct	31,000selected answer correct
Total raw materials available	42,300selected answer incorrect
Less: Ending raw materials inventoryselected answer correct	19,300selected answer incorrect
Raw materials used in production	23,000selected answer incorrect
Less: Indirect materials used in productionselected answer correct	4,720selected answer incorrect
Direct materials used in production		$18,280
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Total manufacturing costs added to production			18,280
Total manufacturing costs to account for			18,280
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Cost of goods manufactured

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
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