Primare Corporation provided the following data for 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 $ 31,000 $ 4,780 $ 58,600 $ 87,500 $ 4,090 Inventories Raw materials Work in process Finished goods Required: 1. Prepare a schedule of cost of goods manufactured. 2. Prepare a schedule of cost of goods sold. Assume the underapplied or overapplied overhea Beginning $ 11,900 Ending $ 19,600 $ 55,700 $ 68,400 $ 33,500 $ 44,000
Primare Corporation provided the following data for 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 $ 31,000 $ 4,780 $ 58,600 $ 87,500 $ 4,090 Inventories Raw materials Work in process Finished goods Required: 1. Prepare a schedule of cost of goods manufactured. 2. Prepare a schedule of cost of goods sold. Assume the underapplied or overapplied overhea Beginning $ 11,900 Ending $ 19,600 $ 55,700 $ 68,400 $ 33,500 $ 44,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Primare Corporation provided the following data for last month's manufacturing operations.
Purchases of raw materials
Indirect materials used in production
$ 31,000
$ 4,780
Direct labor
$ 58,600
$ 87,500
$ 4,090
Manufacturing overhead applied to work in process
Underapplied overhead
Inventories
Raw materials
Work in process
Finished goods
Required:
1. Prepare a schedule of cost of goods manufactured.
2. Prepare a schedule of cost of goods sold. Assume the underapplied or overapplied overhea
Beginning
Ending
$ 11,900
$ 19,600
$ 55,700 $ 68,400
$ 33,500 $ 44,000
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