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


Purchases of raw materials	$	32,000
Indirect materials included in manufacturing overhead	$	4,760
Direct labor	$	58,500
Manufacturing overhead applied to work in process	$	87,700
Underapplied overhead	$	4,150

Inventories	Beginning		Ending
Raw materials	$	10,200	$	18,700
Work in process	$	54,600	$	67,800
Finished goods	$	33,500	$	42,600

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.

Solutions

Expert Solution

*Under applied overhead is added to un adjusted cost of goods sold.

*Over applied overhead is subtracted from un adjusted cost of goods sold.

ekkarill92 answered 2 years ago

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