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. $ 30,000 $4,530 $ 59,100 $ 88,500 $4,080 Purchases of raw materials Indirect materials used in production. Direct labor Manufacturing overhead applied to work in process Underapplied overhead. Inventories Raw materials Work in process Finished goods Beginning Ending $ 11,600 $ 18,600 $ 54,600 $ 66,700 $ 33,300 $ 42,600 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a schedule of cost of goods manufactured for the month.

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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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
Direct labor
Manufacturing overhead applied to work in process
Underapplied overhead
Inventories
Raw materials
Work in process
Finished goods
Beginning Ending
$ 11,600
$ 18,600
$ 54,600
$ 66,700
$ 33,300
$ 42,600
$ 30,000
$ 4,530
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.
Required 1 Required 2
$ 59,100
$ 88,500
$ 4,080
Complete this question by entering your answers in the tabs below.
Prepare a schedule of cost of goods manufactured for the month.
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 Direct labor Manufacturing overhead applied to work in process Underapplied overhead Inventories Raw materials Work in process Finished goods Beginning Ending $ 11,600 $ 18,600 $ 54,600 $ 66,700 $ 33,300 $ 42,600 $ 30,000 $ 4,530 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. Required 1 Required 2 $ 59,100 $ 88,500 $ 4,080 Complete this question by entering your answers in the tabs below. Prepare a schedule of cost of goods manufactured for the month.
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