Homework answers / question archive / Primare Corporation has provided the following data concerning last month's manufacturing operations

Primare Corporation has provided the following data concerning last month's manufacturing operations

Accounting

Share With

Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Underapplied overhead $31,000 $ 4,890 $58,500 $88,400 $ 4,180 Inventories Raw materials Work in process Finished goods Beginning $ 10,500 $ 55,800 $ 34,600 Ending $ 19,800 $ 65, 100 $ 42,300 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 or overapplied overhead is closed to Cost of Goods Sold. Complete the 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 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 Direct labor Manufacturing overhead applied to work in process Total manufacturing costs Add: Beginning work in process inventory 10,500 31,000 41,500 19,800 $ 0 0 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 overapplied overhead is closed to Cost of 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