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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 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $58,000
Manufacturing overhead applied to work in process . . . . . . . . . . . . . . . $87,000
Underapplied overhead . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,000
Inventories Beginning Ending
Raw materials . . . . . . . . . . . . . . . . . . . . . . . . . . $12,000 $18,000
Work in process . . . . . . . . . . . . . . . . . . . . . . . . $56,000 $65,000
Finished goods . . . . . . . . . . . . . . . . . . . . . . . . . $35,000 $42,000

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 overap-
plied overhead is closed to Cost of Goods Sold.

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ekkarill92 answered 2 years ago
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