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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.
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 $32,000 $ 4,850 $58, 200 $88,700 $ 4,180 Inventories Raw...
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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.
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 $ 30,000 $4,900 58,500 ş 88,500 $ 4,170 Inventories Raw...
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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 Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw...
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Chapter 3 Homework Exercise 3-3 Schedules of Cost of Goods Manufactured and Cost of Goods Sold (LO3-3) Primare Corporation has provided the following data concerning last month's manufacturing operations. points eBook Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Underapplied overhead $32,000 $ 4,600 $58,700 $98,500 $ 4,100 Hint Reference Inventories beginning Ending Raw materials $10,300 $18,500 Work in $55,100 $65,400 process Finished $34,700 $43,000 goods Required: 1. Prepare...
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Primare Corporation Schedule of Cost of Goods Manufactured Direct materials: $ Beginning raw materials inventory Add: Purchases of raw materials Total raw materials available 10,200 26,800 X 28,700 X 18,500 20,400 X 4,930 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 15,470 59,400 88,300 163,440 54,900 218,340 68,900 149,440 X Less: Ending...
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Exercise 3-3 Schedules of Cost of Goods Manufactured and Cost of Goods Sold (LO3-3] Primare Corporation has provided the following data concerning last month's manufacturing operations. points Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Underapplied overhead $30,000 $ 4,790 $58,400 $88,200 $ 4,040 eBook Print Inventories Raw materials Work in process Finished goods Beginning $ 10,980 $ 54,200 $ 34,500 Ending $ 18,400 $ 66,100 $ 42,000 References...
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required:1. Prepare a schedule of cost of goods manufactured.
Assume all raw materials used in production were direct
materials.
2. Prepare a schedule of cost of goods sold. Assume that the
company's underapplied or overapplied overhead is closed to Cost of
Goods Sold.
3. Prepare an income statement.
The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to...
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Exercise 3-3 Schedules of Cost of Goods Manufactured and Cost of Goods Sold [LO3-3] 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 $ 4,860 $58,900 $88,000 $ 4,100 Inventories Raw materials Work in process Finished goods Beginning $ 10,200 $ 54,000 $ 33,200 $ 33,200 Ending $ 18,300 $ 65,400 $ 43,700 Required: 1....
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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 $31,000 $ 4,920 $58,700 $88,000 $ 4,050 Inventories Raw materials Work in process Finished goods Beginning $ 11,200 $ 54,300 $ 33,900 Ending $ 18,500 $ 65,800 $ 42,500 Required: 1. Prepare a schedule of cost of goods manufactured for the month. 2. Prepare a schedule of cost...
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Exercise 3-3 Schedules of Cost of Goods Manufactured and Cost of Goods Sold (LO3-3] 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 $ 30,000 $ 5,000 $ 58,000 $ 87,000 $ 4,000 Inventories Raw materials Work in process Finished goods Beginning Ending $ 12,000 $18,000 $ 56,000 $ 65,000 $ 35,000 $ 42,000 ods Required:...
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.
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 $32,000 $ 4,850 $58, 200 $88,700 $ 4,180 Inventories Raw...
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.
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 $ 30,000 $4,900 58,500 ş 88,500 $ 4,170 Inventories Raw...
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 Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw...
Chapter 3 Homework Exercise 3-3 Schedules of Cost of Goods Manufactured and Cost of Goods Sold (LO3-3) Primare Corporation has provided the following data concerning last month's manufacturing operations. points eBook Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Underapplied overhead $32,000 $ 4,600 $58,700 $98,500 $ 4,100 Hint Reference Inventories beginning Ending Raw materials $10,300 $18,500 Work in $55,100 $65,400 process Finished $34,700 $43,000 goods Required: 1. Prepare...
Primare Corporation Schedule of Cost of Goods Manufactured Direct materials: $ Beginning raw materials inventory Add: Purchases of raw materials Total raw materials available 10,200 26,800 X 28,700 X 18,500 20,400 X 4,930 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 15,470 59,400 88,300 163,440 54,900 218,340 68,900 149,440 X Less: Ending...
Exercise 3-3 Schedules of Cost of Goods Manufactured and Cost of Goods Sold (LO3-3] Primare Corporation has provided the following data concerning last month's manufacturing operations. points Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Underapplied overhead $30,000 $ 4,790 $58,400 $88,200 $ 4,040 eBook Print Inventories Raw materials Work in process Finished goods Beginning $ 10,980 $ 54,200 $ 34,500 Ending $ 18,400 $ 66,100 $ 42,000 References...
required:1. Prepare a schedule of cost of goods manufactured.
Assume all raw materials used in production were direct
materials.
2. Prepare a schedule of cost of goods sold. Assume that the
company's underapplied or overapplied overhead is closed to Cost of
Goods Sold.
3. Prepare an income statement.
The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to...
Exercise 3-3 Schedules of Cost of Goods Manufactured and Cost of Goods Sold [LO3-3] 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 $ 4,860 $58,900 $88,000 $ 4,100 Inventories Raw materials Work in process Finished goods Beginning $ 10,200 $ 54,000 $ 33,200 $ 33,200 Ending $ 18,300 $ 65,400 $ 43,700 Required: 1....
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 $31,000 $ 4,920 $58,700 $88,000 $ 4,050 Inventories Raw materials Work in process Finished goods Beginning $ 11,200 $ 54,300 $ 33,900 Ending $ 18,500 $ 65,800 $ 42,500 Required: 1. Prepare a schedule of cost of goods manufactured for the month. 2. Prepare a schedule of cost...
Exercise 3-3 Schedules of Cost of Goods Manufactured and Cost of Goods Sold (LO3-3] 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 $ 30,000 $ 5,000 $ 58,000 $ 87,000 $ 4,000 Inventories Raw materials Work in process Finished goods Beginning Ending $ 12,000 $18,000 $ 56,000 $ 65,000 $ 35,000 $ 42,000 ods Required:...