Question
Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials used in production $30,000 Direct labor
Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials used in production $30,000 Direct labor $ 4,830 $58,600 Manufacturing overhead applied to work in process. Underapplied overhead $87,400 $ 4,160 Inventories Raw materials Work in process Finished goods Beginning Ending $ 11,500 $ 18,400 $ 54,200 $ 67,500 $ 33,200 $ 42,200 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.
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