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

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Accounting

Primare Corporation has provided the following data concerning last months manufacturing operations.
Purchases of raw materials $ 30,000
Indirect materials used in production $ 4,990
Direct labor $ 59,400
Manufacturing overhead applied to work in process $ 87,500
Underapplied overhead $ 4,020
Inventories Beginning Ending
Raw materials $ 10,400 $ 19,100
Work in process $ 55,100 $ 68,600
Finished goods $ 33,400 $ 43,800
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 Cost of Goods Sold.

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