Help Save &Exit s Check my w Primare Corporation has provided the following data

Question

Help Save &Exit s Check my w Primare Corporation has provided the following data concerning last month's manufacturing operations Purchases of raw material Indirect materials included in manufactaring overhead Direet labor Manufacturing overhead applied to vork in process Underapplied overhead 31,000 4,780 60,000 87,400 4,030 Work in process Tinished gooda 21.S00 18,300 55,200 67,500 33,300 42.200 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. Complete the question by entering your answers in the tabs below. Required1 Required 2 Prepare a scheduie of cost of goods manufactured for the month. MacBook Ai 20 2 3 5

Explanation / Answer

Primare Corporation

Schedule of Cost of goods manufactured for the month

Beginning raw material inventory

11500

Add: purchase of raw material inventory

31000

Raw material inventory available for use

42500

Less: Ending raw material inventory

18300

Direct material used in production

24200

Less: indirect material used

4780

19420

Direct labor

60000

Applied overhead

87400

Total manufacturing cost

166820

Add: beginning work in progress

55200

Total cost of work in progress

222020

Less: ending work in progress

67500

Cost of goods manufactured

154520

Primare Corporation

Schedule of Cost of goods Sold

Cost of goods manufactured

154520

Add: Beginning Finished goods Inventory

33300

Inventory available for sale

187820

Less: ending Finished goods Inventory

42200

Unadjusted Cost of goods Sold

145620

Add: under applied of overhead

40300

Adjusted Cost of goods Sold

185920

Primare Corporation

Schedule of Cost of goods manufactured for the month

Beginning raw material inventory

11500

Add: purchase of raw material inventory

31000

Raw material inventory available for use

42500

Less: Ending raw material inventory

18300

Direct material used in production

24200

Less: indirect material used

4780

19420

Direct labor

60000

Applied overhead

87400

Total manufacturing cost

166820

Add: beginning work in progress

55200

Total cost of work in progress

222020

Less: ending work in progress

67500

Cost of goods manufactured

154520

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