Question
In: Accounting
Primare Corporation has provided the following data concerning last month’s manufacturing operations.
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 agoRelated Solutions
Primare Corporation has provided the following data concerning last month’s manufacturing operations.
Primare Corporation has provided the following data concerning
last month’s manufacturing operations. 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.
Primare Corporation has provided the following data concerning last month’s manufacturing operations.
Primare Corporation has provided the following data concerning
last month’s manufacturing operations. 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.
Primare Corporation has provided the following data concerning last month’s manufacturing operations. Purchases of raw...
Primare Corporation has provided
the following data concerning last month’s manufacturing
operations.
Purchases of raw
materials
$
31,000
Indirect materials
included in manufacturing overhead
$
4,660
Direct labor
$
59,100
Manufacturing
overhead applied to work in process
$
88,300
Underapplied
overhead
$
4,110
Inventories
Beginning
Ending
Raw materials
$
10,500
$
19,400
Work in process
$
55,700
$
67,300
Finished goods
$
33,100
$
42,600
Required:
1.
Prepare a schedule of cost of
goods manufactured for the month....
Primare Corporation has provided the following data concerning last month’s manufacturing operations. Purchases of raw materials...
Primare Corporation has provided the following data concerning
last month’s manufacturing operations. Purchases of raw materials $
32,000 Indirect materials used in production $ 4,690 Direct labor $
59,200 Manufacturing overhead applied to work in process $ 87,000
Underapplied overhead $ 4,170 Inventories Beginning Ending Raw
materials $ 10,800 $ 19,800 Work in process $ 55,200 $ 66,800
Finished goods $ 35,000 $ 42,800
Required: 1. Prepare a schedule of cost of goods manufactured
for the month.
2. Prepare a...
Primare Corporation has provided the following data concerning last month’s manufacturing operations. Purchases of raw materials...
Primare Corporation has provided the following data concerning
last month’s manufacturing operations.
Purchases of raw materials
$
31,000
Indirect materials included in manufacturing overhead
$
4,550
Direct labor
$
58,600
Manufacturing overhead applied to work in process
$
88,100
Underapplied overhead
$
4,150
Inventories
Beginning
Ending
Raw materials
$
11,900
$
18,800
Work in process
$
54,600
$
68,100
Finished goods
$
33,300
$
43,000
Required:
1. Prepare a schedule of cost of goods manufactured for the
month.
2. Prepare...
Primare Corporation has provided the following data concerning last month’s manufacturing operations. Purchases of raw materials...
Primare Corporation
has provided the following data concerning last month’s
manufacturing operations.
Purchases of raw
materials
$
31,000
Indirect
materials used in production
$
4,510
Direct
labor
$
58,100
Manufacturing
overhead applied to work in process
$
88,600
Underapplied
overhead
$
4,170
Inventories
Beginning
Ending
Raw
materials
$
10,800
$
19,700
Work in
process
$
54,700
$
65,000
Finished
goods
$
34,700
$
43,500
Required:
1. Prepare a schedule
of cost of goods manufactured for the month.
2. Prepare a...
Primare Corporation has provided the following data concerning last month’s manufacturing operations. Purchases of raw materials...
Primare Corporation has provided the following data concerning
last month’s manufacturing operations.
Purchases of raw materials
$
31,000
Indirect materials included in manufacturing overhead
$
4,900
Direct labor
$
59,900
Manufacturing overhead applied to work in process
$
88,300
Underapplied overhead
$
4,100
Inventories
Beginning
Ending
Raw materials
$
10,800
$
19,400
Work in process
$
54,100
$
69,500
Finished goods
$
35,000
$
42,800
Required:
1. Prepare a schedule of cost of goods manufactured for the
month.
2. Prepare...
Primare Corporation has provided the following data concerning last month’s manufacturing operations. Purchases of raw materials...
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 . . . . . . .
. . . . . . $5,000
Direct labor . . . ....
Primare Corporation has provided the following data concerning last month’s manufacturing operations. Purchases of raw materials...
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 $
4,690 Direct labor $ 58,100 Manufacturing overhead applied to work
in process $ 88,500 Underapplied overhead $ 4,180 Inventories
Beginning Ending Raw materials $ 10,300 $ 19,800 Work in process $
55,100 $ 67,100 Finished goods $ 34,200 $ 43,900
Required: 1. Prepare a schedule of cost of goods manufactured
for the month. 2. Prepare...
Primare Corporation has provided the following data concerning last month’s manufacturing operations. Purchases of raw materials...
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
$
4,780
Direct labor
$
58,100
Manufacturing overhead applied to work in process
$
87,300
Underapplied overhead
$
4,040
Inventories
Beginning
Ending
Raw materials
$
10,700
$
18,700
Work in process
$
54,300
$
67,600
Finished goods
$
33,800
$
42,800
Required:
1. Prepare a schedule of cost of goods manufactured for the
month.
2. Prepare...
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