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 included in manufacturing overhead | $ | 4,890 |
| Direct labor | $ | 58,000 |
| Manufacturing overhead applied to work in process | $ | 88,500 |
| Underapplied overhead | $ | 4,140 |
|
| ||
| Inventories | Beginning | Ending | ||
| Raw materials | $ | 11,100 | $ | 18,300 |
| Work in process | $ | 54,200 | $ | 65,600 |
| Finished goods | $ | 33,800 | $ | 42,400 |
|
| ||||
| 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. |
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