ThatDudeLv1

6 Jul 2022

Primare Corporation has provided the following data concerning last month's manufacturing operations.

      Purchases of raw materials                                                   $ 30,000

      Indirect materials used in production                                     $ 4,790 

      Direct labor                                                                         $ 60,000 

      Manufacturing overhead applied to work in process                 $ 88,000

      Underapplied overhead                                                         $ 4,090

 

Inventories                     Beginning           Ending 

Raw materials                $ 10,300$         $ 18,900

Work in process              $ 55,500$        $ 70,000

Finished goods               $ 34,300$         $ 43,800

 

Required:

1. Prepare a schedule of çost 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 this question by entering your answers in the tabs below.

 

Required 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

Schedule of Cost of Goods Sold

Beginning finished goods inventory	$         34,300
Add: Cost of goods manufactured	94,610
Cost of goods available for sale	128,910
Less: Ending finished goods inventory	43,800
Unadjusted cost of goods sold	85,110
Add: Underapplied overhead	4,090
Adjusted cost of goods sold	$        89,200