Question

Check my w 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 $ 4,740 $59,100 $87,200 $ 4,090 Inventories Raw materials Work in process Finished goods Beginning $ 10, 700 $ 54,700 $ 33,500 Ending $ 19,900 $ 65,900 $ 43,200 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

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Answer 1

	Primare Corporation
	Schedule of Cost of Goods Manufactured
	Direct Materials:
	Beginning Raw Materials Inventory	10,700
	Add: Purchases of Raw Materials	32,000
	Total Raw Materials Available	42,700
	Less: Ending Raw Materials	19,900
	Raw Materials used in production		22,800
	Direct Labor		59,100
	Manufactured Overhead applied to Work in Process		87,200
	Total Manufacturing Costs		169,100
	Add: Beginning Work in Process Inventory		54,700
	Less: Ending Work in Process Inventory		65,900
	Cost of Goods Manufactured		157,900

Primare Corporation
Schedule of Cost of Goods Sold
Beginning Finished Goods Inventory	33,500
Add: Cost Of Goods Manufactured	157,900
Cost of Goods Available For Use	191,400
Less: Ending Finished Goods Inventory	43,200
Unadjusted Cost of Goods Sold	148,200
Add: Unerapplied Overhead	4,090
Adjusted Cost Of Goods Sold	152,290