Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Primare Corporation has provided the following data concerning last month's manufacturing operations Purchases of raw materials $ 32,000 Indirect materials used in production $ 4,848

image text in transcribed
image text in transcribed
image text in transcribed
Primare Corporation has provided the following data concerning last month's manufacturing operations Purchases of raw materials $ 32,000 Indirect materials used in production $ 4,848 Direct labor $ 59,800 Manufacturing overhead applied to work in process $ 88,500 Underapplied overhead $ 4,888 Inventories Beginning Ending Raw materials $ 11,100 $ 18,300 Work in process $ 54,200 $ 67,800 Finished goods $ 33,900 $ 43,988 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 Beginning work in process inventory Direct materials: Purchases of raw materials Total raw materials available Less: Ending raw materials inventory Raw materials used in production 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 Beginning work in process inventory Direct materials: 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 Show All Items Total manufacturing costs added to production Total manufacturing costs to account for Cost of goods manufactured Required Required 2 > Direct labor $ 59,800 Manufacturing overhead applied to work in process $ 88,500 Underapplied overhead $ 4,080 Inventories Beginning Ending Raw materials $ 11,100 $ 18,300 Work in process $ 54,200 $ 67,800 Finished goods $ 33,900 $ 43,900 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 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is dosed to Cost of Goods Sold Primare Corporation Schedule of Cost of Goods Sold

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella

3rd Edition

0136946690, 978-0136946694

More Books

Students also viewed these Accounting questions

Question

Make arguments for the union and for the employer.

Answered: 1 week ago