Question

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 $ 4,910 $59,400 $87,400 $ 4,110 Inventories Raw materials Work in process Finished goods Beginning $ 10, 200 $ 55,700 $ 34,700 Ending $ 19,500 $ 69,000 $ 42,500 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 complete but not entirely correct. Complete the question by entering your answers in the tabs below. Required 1 Required 2 < Prev 2 of 4 Next >

Answer 1

Master - Microsoft Excel Data Review View CHE = Home Insert Page Layout Formulas Cut Calibri - 11 - A Paste Format Painter BIU-- Clipboard Font A Σ AutoSum : A - General ta Copy Wrap Text Merge & Center - S - % 8.99 Conditional Format Formatting as Table Cell Styles Insert Delete Format Cells 2 Clear Sort & Filter Editing Find & Select Alignment Number Styles F38 DE HT 32 Cost of Goods Manufactured 33 10200 30000 34 Direct Material Cost 35 Opening bal 36 Add: Purchases 37 total material available 38 less : ending inventory 39 raw material used in production 40 less: indirect material 41 direct labour 42 manufacturing overhead applied 43 manufacturing cost 44 add;beginning work in inventory 40200 19500 20700 4910 15790 59400 87400 162590 55700 218290 69000 149290 45 46 less : ending work in process 47 Cost of goods manufactured 48 55 56 Sheet1 Sheet2 Sheet3 Process Seurities Act 1933 Sheeto process II Ready 20 100% + 0 12:19 AM 30/01/2020 -

Master - Microsoft Excel Data Review View Σ AutoSum General A CD92= Home Insert Page Layout Formulas * Cut Calibri - 11-AA Paste Format Painter Clipboard Font F78 x - La Copy Wrap Text Merge & Center - Z S - % 8.99 Conditional Format Formatting as Table Cell Styles Insert Delete Format Cells 2 Clear Sort & Filter Editing Find & Select Alignment Number Styles DE HTT. 57 58 Cost of goods Sold 59 60 Beginning Inventory of Finished goods 61 add: Cost of goods manufactured 62 cost of goods available for sales 63 less : ending inventory 64 unadjusted cost of goods sold 65 Add:underapplied overhead 66 adjusted cost of goods sold 67 68 69 34700 149290 183990 42500 141490 4110 145600 76 77 78 Sheet1 Sheet2 Sheet3 Process theets | process II, 2 Seurities Act 1933 Sheeto process II Ready 20 100% + 0 12:19 AM 30/01/2020