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 Under applied overhead $30,000 $ 4,690 $59,600 $88, 200 $ 4,010 Inventories Beginning Ending Raw materials $11,600 $ 18,400 Work in process $55,300 $ 68,700 Finished goods $33,500 $ 42,300 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 overhe Goods Sold. Complete this question by entering your answers in the tabs below. Schedule of Cost of Goods Manufactured Direct materials: Beginning raw materials inventory Add: Purchases of raw materials Total raw materials available Less: Ending raw materials inventory Raw materials used in production Less: Indirect materials used in production Direct materials used in production Manufacturing overhead Beginning raw materials inventory Ending raw materials inventory Total manufacturing costs added to production Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured $ Required 2 > M Required 1 Required 2 Prepare a schedule of cost of goods sold for the month. Assume the underapplie 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 EA $ 34,300 20 5 points eBook Hint Print References The Polaris Company uses a job-order costing system. The following transactions occurred in October a. Raw materials purchased on account, $209,000. b. Raw materials used in production, $189,000 ($151,200 direct materials and $37,800 indirect materials). c. Accrued direct labor cost of $49,000 and indirect labor cost of $21,000. d. Depreciation recorded on factory equipment, $105,000. e. Other manufacturing overhead costs accrued during October, $130,000. f. The company applies manufacturing overhead cost to production using a predetermined rate of $6 per machine-h 76,500 machine-hours were used in October g. Jobs costing $511,000 according to their job cost sheets were completed during October and transferred to Finish h. Jobs that had cost $452,000 to complete according to their job cost sheets were shipped to customers during the jobs were sold on account at 26% above cost. Required: 1. Prepare journal entries to record the transactions given above. 2. Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from above t Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $34,000. ww Complete this question by entering your answers in the tabs below.