Question - 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 $ 4,610
Direct labor $ 58,600
Manufacturing overhead applied to work in process $ 87,100
Underapplied overhead $ 4,060
|
Inventories
|
Beginning
|
Ending
|
|
Raw materials
|
$11,100
|
$19,900
|
|
Work in process
|
$55,400
|
$68,500
|
|
Finished goods
|
$33,800
|
$43,000
|
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.