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Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Underapplied overhead Inventories Raw materials Work in process Finished goods Beginning Ending $ 10,700 $ 19,000 $ 55,400 $ 65,600 $ 35,000 $ 43,600 $ 31,000 $ 4,990 $ 58,800 $ 87,300 $ 4,150 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 clos Goods Sold.

Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Underapplied overhead Inventories Raw materials Work in process Finished goods Beginning Ending $ 10,700 $ 19,000 $ 55,400 $ 65,600 $ 35,000 $ 43,600 $ 31,000 $ 4,990 $ 58,800 $ 87,300 $ 4,150 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 clos Goods Sold.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Underapplied overhead Inventories Raw materials Work in process Finished goods Beginning $ 10,700 $ 55,400 Ending $ 19,000 $ 65,600 $ 35,000 $ 43,600 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 Goods Sold. Direct materials: Complete the question by entering your answers in the tabs below. Required 1 Required 2 Prepare a schedule of cost of goods manufactured for the month. $ 31,000 $ 4,990 $ 58,800 $ 87,300 $ 4,150 Primare Corporation Schedule of Cost of Goods Manufactured
Transcribed Image Text:Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Underapplied overhead Inventories Raw materials Work in process Finished goods Beginning $ 10,700 $ 55,400 Ending $ 19,000 $ 65,600 $ 35,000 $ 43,600 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 Goods Sold. Direct materials: Complete the question by entering your answers in the tabs below. Required 1 Required 2 Prepare a schedule of cost of goods manufactured for the month. $ 31,000 $ 4,990 $ 58,800 $ 87,300 $ 4,150 Primare Corporation Schedule of Cost of Goods Manufactured
Required 1 Required 2 Prepare a schedule of cost of goods manufactured for the month. Direct materials: Total raw materials available Raw materials used in production Total manufacturing costs Primare Corporation Schedule of Cost of Goods Manufactured Cost of goods manufactured Required 1 Required 2 Complete the question by entering your answers in the tabs below. < Required 1 Primare Corporation Schedule of Cost of Goods Sold Required 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 >
Transcribed Image Text:Required 1 Required 2 Prepare a schedule of cost of goods manufactured for the month. Direct materials: Total raw materials available Raw materials used in production Total manufacturing costs Primare Corporation Schedule of Cost of Goods Manufactured Cost of goods manufactured Required 1 Required 2 Complete the question by entering your answers in the tabs below. < Required 1 Primare Corporation Schedule of Cost of Goods Sold Required 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 >
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