Primare Corporation provided the following data for last months manufacturing operations. Purchases of raw materials $ 30,000 Indirect materials used in production $ 5,000 Direct labor $ 58,000 Manufacturing overhead applied to work in process $ 87,000 Underapplied overhead $ 4,000 Inventories Beginning Ending Raw materials $ 12,000 $ 18,000 Work in process $ 56,000 $ 65,000 Finished goods $ 35,000 $ 42,000

Required:

Prepare a schedule of cost of goods manufactured.

Prepare a schedule of cost of goods sold.

Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold.