Question

Primare Corporation has provided the following data concerning last month's manufacturing operations Sold (L03-31 Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Underapplied overhead $32,000 $4,700 $59.40 587,90 3.4.14 Inventories Raw materials Work in process Finished goods Beginning Ending $ 11, $ 19,30 $ 55, 567,10 $ 34,900 $ 43,20 print Required: L Prepare a schedule 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 ferences 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. 11,000 Primare Corporation Schedule of Cost of Goods Manufactured Direct materials Beginning raw materials invertory 5 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 splied to work in process Total manufacturing costs Add Beginning work in process inventory 43,000 10.00 Less Ending work in process invertory Cost of goods manufactured

Answer 1

1)
	Schedule of Cost of Goods Manufactured
	Direct Materials:
	Beginning raw materials inventory					$ 11,900.00
Add:	Purchases of raw material					$ 32,000.00
	Total raw materials available					$ 43,900.00
Less:	Ending raw materials inventory					$ 19,300.00
	Raw materials used in production					$ 24,600.00
Less:	Indirect materials included in manufacturing overhead					$   4,700.00	$    19,900.00
	Direct Labor						$    59,400.00
	Manufacturing overhead applied to work in process						$    87,900.00
	Total manufacturing cost						$ 1,67,200.00
Add:	Beginning work in process						$    55,800.00
							$ 2,23,000.00
Less:	Ending work in process						$    67,800.00
	Cost of goods manufactured						$ 1,55,200.00

2)
	Schedule of Cost of Goods Sold
	Beginning Finished Goods Inventory				$    34,900.00
Add:	Cost of goods manufactured				$ 1,55,200.00
	Total cost of goods available				$ 1,90,100.00
Less:	Ending finished goods inventory				$    43,200.00
	Unadjusted cost of goods sold				$ 1,46,900.00
Add:	Underapplied overhead				$      4,140.00
	Adjusted cost of goods sold				$ 1,51,040.00

Note: All the amounts are not clearly visible in the snap of the question provided by you, so I request you to correct any amount which I might have incorrectly put. Thank you