Primare Corporation has provided the following data concerning last month's manufacturing operations. $ 32,000 $ 4,860 $ 58,400 $ 87,700 $ 4,080 Purchases of raw materials Indirect materials used in production Direct labor Manufacturing overhead applied to work in process Underapplied overhead Inventories Raw materials Work in process Finished goods Beginning $ 11,700 $ 54,900 $ 34,100 Ending $ 18,800 $ 69,600 $ 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. ho holou

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Primare Corporation has provided the following data concerning last month's manufacturing operations.
Purchases of raw materials
Indirect materials used in production
Direct labor
Manufacturing overhead applied to work in process
Underapplied overhead
Inventories
Raw materials
Work in process
Finished goods
Beginning
$ 11,700
$ 54,900
$ 34,100
Ending
$ 18,800
$ 69,600
$ 43,800
$ 32,000
$ 4,860
$ 58,400
$ 87,700
$ 4,080
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 this question by entering your answers in the tabs below.
Transcribed Image Text:Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials used in production Direct labor Manufacturing overhead applied to work in process Underapplied overhead Inventories Raw materials Work in process Finished goods Beginning $ 11,700 $ 54,900 $ 34,100 Ending $ 18,800 $ 69,600 $ 43,800 $ 32,000 $ 4,860 $ 58,400 $ 87,700 $ 4,080 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 this question by entering your answers in the tabs below.
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