Question

Primare Corporation has provided the following data concerning last month’s manufacturing operations.

Purchases of raw materials	$	30,000
Indirect materials included in manufacturing overhead	$	4,780
Direct labor	$	59,100
Manufacturing overhead applied to work in process	$	87,800
Under applied overhead	$	4,140

Inventories	Beginning		Ending
Raw materials	$	10,500	$	18,800
Work in process	$	55,200	$	66,300
Finished goods	$	33,200	$	42,100

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 under applied or over applied 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 Schedule of Cost of Goods Manufactured Direct materials Total raw materials available Raw materials used in production Total manufacturing costs Cost of goods manufactured Required 1 Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to cost of Goods Sold Primare Corporation Schedule of Cost of Goods Sold

Answer 1

Primare Corponation Schedule of Cost of Goods manufactured Dinect materials: Beginning raw materials inventory $ 10,S00 Add: Purchases raw materials $ 30,000 To tal raw materials available$ 40, 500 Less: Ending raw material ínventory $ 18,800 Raw materials used in pnoduction $ 21,700 Less: Indinect materials included in $16,920 manufacturing overhead $ 4, 780 Di rect labor $ 59, 100 Manufacturing overhead applied to workin $ 87, 800 process Total manu facturing costs Addi Beginning work in process. inventory $163,820 $ 55,200 $ 219, 020 Lew: Ending wonk in process inventory Cost of goods $ 66,300 manu factured $ 152,720

Primare lonporation Schedule of Cost of Goods Sold Beginning finished goods inventory 33,200 Cost of goods manuf actured $ 152,120 Add: Cost of goods available for sale $ 185, 920 42,100 Ending finished Unadjusted cost of goodls sold goods inventory Less: $ 143,820 Add: Under applied overhead 4,140 COst of goods 8old $ 147,960 Adjusted