70.2K

Verified Solution

Link Copied!

Exercise 2-6 Schedules of Cost of Goods Manufactured and Cost of Goods Sold [LO2-6]

Primare Corporation has provided the following data concerning last months manufacturing operations.

Purchases of raw materials	$	32,000
Indirect materials included in manufacturing overhead	$	4,830
Direct labor	$	59,600
Manufacturing overhead applied to work in process	$	88,900
Underapplied overhead	$	4,030

Inventories	Beginning		Ending
Raw materials	$	10,900	$	19,600
Work in process	$	54,500	$	65,500
Finished goods	$	33,700	$	43,500

Required:

1.

Prepare a schedule of cost of goods manufactured for the month. HOME ACCESSIBILITY PREVIEW Primare Corporation Schedule of Cost of Goods Manufactured Direct materials: Total raw materials available 0 Raw materials used in production 0 $0 Total manufacturing costs 0 0 Cost of goods manufactured $0 + The full content of this question did not transfer to your assignment. Please try again. reload 2. Prepare a schedule of cost of goods sold for the month. HOME ACCESSIBILITY PREVIEW Primare Corporation Schedule of Cost of Goods Sold Finished goods inventory, beginning Goods available for sale 0 Unadjusted cost of goods sold 0 Adjusted cost of goods sold $0 + Add: Cost of goods manufactured Add: Finished goods inventory, ending Add: Overapplied overhead Add: Underapplied overhead Less: Cost of goods manufactured Less: Finished goods inventory, ending Less: Overapplied overhead Less: Underapplied overhead The full content of this question did not transfer to your assignment. Please try again. reload

Answer & Explanation Solved by verified expert

See Answer