Primare Corporation has provided the following data concerning last month\'s man

Question

Primare Corporation has provided the following data concerning last month's manufacturing operations 31,000 Indirect materials included in manufacturing overhead 4,650 58,200 Manufacturing overhead applied to work in process87,400 4,070 Purchases of raw materlals Direct 1abor Underapplied overhead Rav materials Work in process Pinished goods 10,500 19,000 55,500 65,600 33,600 42,500 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 Goods Sold Complete the question by entering your answers in the tabs below Required 1 Required 2 Prepare a schedule of cost of goods manufactured for the month. 3 5 7 9

Explanation / Answer

Schedule of cost of goods manufactured :

Cost of goods sold schedule:

Direct material used Beginning raw material 10500 Purchase of raw material 31000 Raw material available for production 41500 Less; Ending raw material -19000 Raw material used in production 22500 Less; Indirect material used -4650 17850 Direct labour 58200 Manufacturing overhead applied 87400 Total manufacturing cost 163450 Beginning work in process 55500 Total cost of work in process 218950 Less: Ending work in process -65600 Cost of goods manufactured 153350

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