Exercise 3-3 (Algo) Schedules of Cost of Goods Manufactured and Cost of Goods Sold [LO3-3] Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials used in production $ 31,000 $ 4,890 Direct labor $ 59,700 $ 88,600 $4,100 Manufacturing overhead applied to work in process Underapplied overhead Inventories Raw materials Work in process Finished goods Ending Beginning $ 10,800 $ 19,100 $ 55,700 $ 65,100 $ 33,500 $ 42,100 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 C
Exercise 3-3 (Algo) Schedules of Cost of Goods Manufactured and Cost of Goods Sold [LO3-3] Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials used in production $ 31,000 $ 4,890 Direct labor $ 59,700 $ 88,600 $4,100 Manufacturing overhead applied to work in process Underapplied overhead Inventories Raw materials Work in process Finished goods Ending Beginning $ 10,800 $ 19,100 $ 55,700 $ 65,100 $ 33,500 $ 42,100 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 C
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Exercise 3-3 (Algo) Schedules of Cost of Goods Manufactured and Cost of Goods Sold [LO3-3]
Primare Corporation has provided the following data concerning last month's manufacturing operations.
Purchases of raw materials
Indirect materials used in production
$ 31,000
$4,890
Direct labor
$ 59,700
$ 88,600
$ 4,100
Manufacturing overhead applied to work in process
Underapplied overhead
Inventories
Raw materials
Work in process
Finished goods
Beginning
Ending
$ 10,800 $ 19,100
$ 55,700
$ 65,100
$ 33,500 $ 42,100
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 Cos](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F512508e1-ee86-4982-9eef-90ca96c3c95a%2F01f0eb45-edb9-41f1-9bcd-9f8cc0c24b58%2Fqd3ehot_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Exercise 3-3 (Algo) Schedules of Cost of Goods Manufactured and Cost of Goods Sold [LO3-3]
Primare Corporation has provided the following data concerning last month's manufacturing operations.
Purchases of raw materials
Indirect materials used in production
$ 31,000
$4,890
Direct labor
$ 59,700
$ 88,600
$ 4,100
Manufacturing overhead applied to work in process
Underapplied overhead
Inventories
Raw materials
Work in process
Finished goods
Beginning
Ending
$ 10,800 $ 19,100
$ 55,700
$ 65,100
$ 33,500 $ 42,100
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 Cos
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