Question

In: Accounting

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

$

4,800

Direct labor

$

59,900

Manufacturing overhead applied to work in process

$

88,300

Underapplied overhead

$

4,130

Inventories

Beginning

Ending

Raw materials

$

10,100

$

18,100

Work in process

$

55,600

$

67,500

Finished goods

$

33,000

$

43,200

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.

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