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 $ 30,000 $ 5,000 $ 58,000 $ 87,000 $ 4,000 Inventories Beginning Ending Raw materials $ 12,000 $ 18,000 Work in process $ 56,000 $ 65,000 Finished goods $ 35,000 $ 42,000 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. Direct materials: Primare Corporation Schedule of Cost of Goods Manufactured Total raw materials available Raw materials used in production Direct materials used in production Total manufacturing costs added to production Total manufacturing costs to account for Cost of goods manufactured
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 $ 30,000 $ 5,000 $ 58,000 $ 87,000 $ 4,000 Inventories Beginning Ending Raw materials $ 12,000 $ 18,000 Work in process $ 56,000 $ 65,000 Finished goods $ 35,000 $ 42,000 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. Direct materials: Primare Corporation Schedule of Cost of Goods Manufactured Total raw materials available Raw materials used in production Direct materials used in production Total manufacturing costs added to production Total manufacturing costs to account for Cost of goods manufactured
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 21E: Ellerson Company provided the following information for the last calendar year: During the year,...
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![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
$ 30,000
$ 5,000
$ 58,000
$ 87,000
$ 4,000
Inventories
Beginning
Ending
Raw materials
$ 12,000
$ 18,000
Work in process
$ 56,000
$ 65,000
Finished goods
$ 35,000
$ 42,000
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.
Direct materials:
Primare Corporation
Schedule of Cost of Goods Manufactured
Total raw materials available
Raw materials used in production
Direct materials used in production
Total manufacturing costs added to production
Total manufacturing costs to account for
Cost of goods manufactured](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F24dc6e98-c8af-4d8b-8b32-07d76b901d13%2F5f220626-6001-423e-a4a4-c4256341ba3e%2F1kq53j8_processed.png&w=3840&q=75)
Transcribed Image Text: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
$ 30,000
$ 5,000
$ 58,000
$ 87,000
$ 4,000
Inventories
Beginning
Ending
Raw materials
$ 12,000
$ 18,000
Work in process
$ 56,000
$ 65,000
Finished goods
$ 35,000
$ 42,000
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.
Direct materials:
Primare Corporation
Schedule of Cost of Goods Manufactured
Total raw materials available
Raw materials used in production
Direct materials used in production
Total manufacturing costs added to production
Total manufacturing costs to account for
Cost of goods manufactured
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