Question

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 32,000 s 4,830 $ 59,206e 87,900 4,120 Inventories Raw materials ผ0rk in process Finished goods Beginning Ending 11,600 $19,20 $ 54,400 $69,000 33,400 $42,980 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 Total raw materials available Raw materials used in production Pre 8 of 8

Answer 1

Schedule of cost of goods manufactured

Direct material
Beginning raw material	11600
Purchase of raw material	32000
Raw material available for use	43600
Less: Ending raw material	-19200
Raw material used in production	24400
Less: Indirect material	-4830
Direct material used in production		19570
Direct labor		59200
Manufacturing overhead applied		87000
Total manufacturing cost		165770
Beginning work in process		54400
Total Cost of work in process		220170
Less: Ending work in process		-69000
Cost of goods manufactured		151170

b) Schedule of cost of goods sold

Beginning finished goods	33400
Cost of goods manufactured	151170
Cost of goods available for sale	184570
Less: Ending finished goods	-42900
Unadjusted cost of goods sold	141670
Add: Underapplied overhead	4120
Adjusted cost of good sold	145790