Question

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work i Check my work mode : This shows what is correct or incorrect for the work y Requirea 1 Requirea 2 ********************************* Prepare a schedule of cost of goods manufactured for the month. ...............................***. Primare Corporation Schedule of Cost of Goods Manufactured $ 12,000 30,000 42,000 18,000 24,000 5,000 ololololo 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 used in production Direct materials used in production Direct labor Manufacturing overhead Utilities, factory Total manufacturing costs added to production Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured ✓ $ 19,000 58,000 87.000 18,000 ✓ X 182,000 182,000 65,000 $ 155,000 Required Required 2 > Prex 1 of 5 Bop ViewSonic ECTION III MICRORIOLOGY

Answer 1

Primare Corporation
Schedule of Cost of Goods Manufactured
Beginning work in process inventory			56,000
Direct materials:
Beginning raw materials inventory	12,000
Add: Purchases of raw materials	30,000
Total raw materials available	42,000
Less: Ending raw materials inventory	-18,000
Raw materials used in production	24,000
Less: Indirect materials used in production	-5,000
Direct materials used in production		19,000
Direct labor		58,000
Manufacturing Overheads		87,000
Total Manufacturing Costs			164,000
Total cost of work in process			220,000
Less: Ending Work in process inventory			-65,000
Cost of goods manufactured			$155,000

2.

Primare Corporation
Schedule of Cost of Goods Sold
Finished goods inventory, beginning	35,000
Cost of goods manufactured	155,000
Cost of goods available for sale	190,000
Finished goods inventory, Ending	-42,000
Unadjusted Cost of goods sold	148,000
Under applied manufacturing overhead	4,000
Adjusted Cost of goods sold	$152,000

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