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 $ 30,000 $ 5,000 $ 58,000 $ 87,000 $ 4,000 Inventories Raw materials Work in process Finished goods Beginning $ 12,000 $ 56,000 $ 35,000 Ending $ 18,000 $ 65,000 $ 42,000 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. 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. Primare Corporation Schedule of Cost of Goods Manufactured $ 12,000 30,000 42,000 18,000 24,000 5,000 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 Direct labor Manufacturing overhead Beginning raw materials inventory Total manufacturing costs added to production Total manufacturing costs to account for Less: Ending raw materials inventory Cost of goods manufactured $ 19,000 58,000 87,000 164,000 164,000 65,000 155,000 $ 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 35,000 155,000 190,000 42,000 148,000 4,000 $ 152,000