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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
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 Raw materials Beginning Ending $ 10,100 $ 18,200 $ 31,000 $ 4,840 $ 58,800 $ 89,000 $ 4,170 Work in process $ 54,500 $ 65,700 Finished goods $ 33,200 $ 42,600 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a schedule of cost of goods manufactured for the month. Direct materials: Primare Corporation Schedule of Cost of Goods Manufactured Beginning raw materials inventory Add: Purchases of raw materials Total raw materials available $ 10,100 31,000 41,100 Less: Ending raw materials inventory 18,700 x Raw materials used in production 22,400 Less: Indirect materials used in production 4,840 Direct materials used in production Direct labor Manufacturing overhead Total manufacturing costs added to production Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured $ 17,560 58,800 89,000 165,360 165,360 65,700 $ 231,060 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 $ 31,000 $ 4,840 $ 58,800 $ 89,000 $ 4,170 Beginning Ending Raw materials $ 10,100 $ 18,200 Work in process $ 54,500 $ 65,700 Finished goods $ 33,200 $ 42,600 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 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 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 $ 10,100 31,000 41,100 x 18,200 x 22,900 4,170 $ 18,730 < Required 1 Required 2 >
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