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Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials $ 31,000 $ 4,530 Indirect materials used in production Direct labor $ 59,300 $ 88,900 $4,200 Manufacturing overhead applied to work in process Underapplied overhead Inventories Raw materials Work in process Finished goods Beginning $ 10,500 $ 55,700 $ 34,700 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 Ending $ 18,800 $ 69,000 $ 42,100 Complete this question by entering your answers in the tabs below. Prepare a schedule of cost of goods manufactured for the month. Beginning work in process inventory Direct materials: Primare Corporation Schedule of Cost of Goods Manufactured Add: Purchases of raw materials Total raw materials available X Answer is not complete. Less: Ending raw materials inventory Raw materials used in production Less: Indirect materials used in production Direct materials used in production Direct labor Total manufacturing costs added to production Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured ✓ ✓ ✓ ✔ ✓ < Required 1 31,000 41,500 18,800 22,700✔ 4,530 $ 18,170 59,300✔ $ 10,500 X 77,470 87,970 69,000✔ $ 157,600 X Required 2 >

Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials $ 31,000 $ 4,530 Indirect materials used in production Direct labor $ 59,300 $ 88,900 $4,200 Manufacturing overhead applied to work in process Underapplied overhead Inventories Raw materials Work in process Finished goods Beginning $ 10,500 $ 55,700 $ 34,700 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 Ending $ 18,800 $ 69,000 $ 42,100 Complete this question by entering your answers in the tabs below. Prepare a schedule of cost of goods manufactured for the month. Beginning work in process inventory Direct materials: Primare Corporation Schedule of Cost of Goods Manufactured Add: Purchases of raw materials Total raw materials available X Answer is not complete. Less: Ending raw materials inventory Raw materials used in production Less: Indirect materials used in production Direct materials used in production Direct labor Total manufacturing costs added to production Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured ✓ ✓ ✓ ✔ ✓ < Required 1 31,000 41,500 18,800 22,700✔ 4,530 $ 18,170 59,300✔ $ 10,500 X 77,470 87,970 69,000✔ $ 157,600 X Required 2 >

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials $ 31,000 $ 4,530 Indirect materials used in production Direct labor $ 59,300 $ 88,900 $4,200 Manufacturing overhead applied to work in process Underapplied overhead Inventories Raw materials Work in process Finished goods Beginning $ 10,500 $ 55,700 $ 34,700 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 Complete this question by entering your answers in the tabs below. Ending $ 18,800 $ 69,000 $ 42,100 Prepare a schedule of cost of goods manufactured for the month. Beginning work in process inventory Direct materials: Primare Corporation Schedule of Cost of Goods Manufactured Add: Purchases of raw materials Total raw materials available X Answer is not complete. Less: Ending raw materials inventory Raw materials used in production Less: Indirect materials used in production Direct materials used in production Direct labor Total manufacturing costs added to production Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured ✓ ✓ ✓ ✔ ✓ < Required 1 31,000 41,500 18,800 22,700✔ 4,530 $ 18,170 59,300✔ $ 10,500 X 77,470 87,970 69,000✔ $ 157,600 X Required 2 >
Transcribed Image Text:Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials $ 31,000 $ 4,530 Indirect materials used in production Direct labor $ 59,300 $ 88,900 $4,200 Manufacturing overhead applied to work in process Underapplied overhead Inventories Raw materials Work in process Finished goods Beginning $ 10,500 $ 55,700 $ 34,700 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 Complete this question by entering your answers in the tabs below. Ending $ 18,800 $ 69,000 $ 42,100 Prepare a schedule of cost of goods manufactured for the month. Beginning work in process inventory Direct materials: Primare Corporation Schedule of Cost of Goods Manufactured Add: Purchases of raw materials Total raw materials available X Answer is not complete. Less: Ending raw materials inventory Raw materials used in production Less: Indirect materials used in production Direct materials used in production Direct labor Total manufacturing costs added to production Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured ✓ ✓ ✓ ✔ ✓ < Required 1 31,000 41,500 18,800 22,700✔ 4,530 $ 18,170 59,300✔ $ 10,500 X 77,470 87,970 69,000✔ $ 157,600 X Required 2 >
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