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 Indirect materials used in production Direct labor Manufacturing overhead

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 Indirect materials used in production Direct labor Manufacturing overhead applied to work in process Underapplied overhead $ 30,000 $ 4,860 $ 58,800 $ 88,600 $ 4,160 * Inventories Raw materials Work in process Finished goods Beginning $ 10,800 $ 54,100 $ 33,900 Ending $ 18,600 $ 67,200 $ 42,600 1 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 nt Complete this question by entering your answers in the tabs below. ences 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 Beginning raw materials inventory Add: Purchases of raw materials Total raw materiais available 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: 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 Direct labor $ 0 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 > Required 1 Required 2 Prepare a schedule of cost of goods sold for the month. Assume the underapplied or 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_2

Step: 3

blur-text-image_3

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

Accounting And Finance For Non Specialists

Authors: Eddie McLaney, Peter Atrill

8th Edition

9780273778165

Students also viewed these Accounting questions