Primare Corporation has provided the following data concerning last month's manufacturing operations. Required: Purchases of raw materials Indirect materials used in production Direct labor $30,000 $5,000 $58,000 Manufacturing overhead applied to work in process $87,000 Underapplied overhead $4,000 Inventories Beginning Ending Raw materials $12,000 $18,000 Work in process $56,000 $65,000 Finished goods $35,000 $42,000 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.