Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Primare Corporation has provided the following data concerning last month's manufa Purchases of raw materials Indirect materials used in production Direct labor Manufacturing overhead applied

image text in transcribed
image text in transcribed
image text in transcribed
Primare Corporation has provided the following data concerning last month's manufa Purchases of raw materials Indirect materials used in production Direct labor Manufacturing overhead applied to work in process Underapplied overhead $32,000 $ 4,560 $59,300 $88,900 $ 4,170 Inventories Raw materials Work in process Finished goods Beginning $ 11,200 $ 54,200 $33,200 Ending $ 18,700 $ 67,200 $ 43,300 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 Goods Sold. Complete this question by entering your answers in the tabs below. 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: 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 $ 0 0 Total manufacturing costs added to production Total manufacturing costs to account for 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 underapplied or overapp 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

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

Essentials Of Accounting

Authors: Robert N. Anthony, Leslie Pearlman Breitner

9th Edition

013149693X, 9780131496934

More Books

Students also viewed these Accounting questions

Question

15.7 Explain the six steps in the termination interview

Answered: 1 week ago

Question

15.1 Define employee relations and employee engagement.

Answered: 1 week ago