Question

Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate com Exercise 3-3 Schedules of Cost of Goods Manufactured and Cost of Goods Sold (L03-3] 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 $31,000 $ 4,890 358,700 588,200 $ 4.030 Inventor Raw materiale Work in process Tinished goods Beginning teding $ 10,100 $ 19,700 $ 55,800 68.900 $ 34,500 43,800 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 Answer is not complete. Complete the question by entering your answers in the tabs below. Required 1 Required 2 of 6 Next > MacBook Al 1 20 FS A * %23 $ 4 % 5 & 7 6 8 9 O 2 T E T R Y 0 W U F J S L G K к H D

Answer 1

Schedule of Cost of goods Manufactured
Direct Materials:
Beginning Raw Material Inventory	10100
Add: Purchase of Raw Material	31000
Total Raw Material Available	41100
Less: Ending Raw Material inventory	-19700
Raw Material used in Production	21400
		21400
Direct Labour		58700
Manufacturing overhead applied to WIP		88200
Total Manufacturing Cost		168300
Add: Beginning Work in Progress Inventory		55800
		224100
Less: Ending work in progress inventory		-68900
Cost of Goods Manufactured		155200
Schedule of Cost of goods Sold
Beginning Finished goods Inventory		34500
Add: Cost of Goods manufactured		155200
Total Finished Goods Available for sale		189700
Less: Ending finished goods inventory		-43800
		145900
Add: Underapplied Overhead		4030
Cost of Goods Sold		149930