Primare Corporation has provided the following data concerning last month's manufacturing operations Purchases of raw materials Indirect materials included in manufacturing overhead Manufacturing overhead applied to work in process Underapplied overhead Direct labor $31,000 $ 4,670 $58,500 $87,800 $ 4,060 Inventories Raw materials Work in process Finished goods Beginning $ 11,100 $ 54,300 $ 34,800 Ending $ 18,900 $ 67,200 $ 42,900 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 Required 1 Required 2 Prepare a schedule of cost of goods manufactured for the month. Primare Corporation 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 included in manufacturing overhead Beginning raw materials inventory Direct labor Total manufacturing costs Add: Manufacturing overhead cost 11.100 31,000 42,100 (18,900) 23,200 4,670 $ 18,530 87,800 58,500 146,300 $ 54,300 200,600 (67.200) 133,400 Less: Ending work in process inventory Cost of goods manufactured $ Required 1 Required 2 Prepare a schedule of cost of goods sold for the month. Assume the underapp 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 $ 34,800 133,400 X 168,200 X 42,900 125,300 x 4,060 $ 129,360 X