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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 Inventories Raw materials Work in process Finished goods Beginning Ending $ 11,800 $ 18,800 $ 55,700 $ 69,500 $ 33,500 $ 42,200 Required 1 $ 30,000 $ 4,820 $ 59,900 Required: 1. Prepare a schedule of cost of goods manufactured. 2. Prepare a schedule of cost of goods sold. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold. $ 89,000 $ 4,160 Complete this question by entering your answers in the Required 2

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 Inventories Raw materials Work in process Finished goods Beginning Ending $ 11,800 $ 18,800 $ 55,700 $ 69,500 $ 33,500 $ 42,200 Required 1 $ 30,000 $ 4,820 $ 59,900 Required: 1. Prepare a schedule of cost of goods manufactured. 2. Prepare a schedule of cost of goods sold. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold. $ 89,000 $ 4,160 Complete this question by entering your answers in the Required 2

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 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 Inventories Raw materials. Work in process Finished goods Beginning $ 11,800 $ 55,700 $ 33,500 Required: 1. Prepare a schedule of cost of goods manufactured. 2. Prepare a schedule of cost of goods sold. 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 Direct materials: Prepare a schedule of cost of goods manufactured. Total raw materials available Ending $ 18,800 $ 69,500 $ 42,200 Raw materials used in production Primare Corporation Schedule of Cost of Goods Manufactured Direct materials used in production Cost of goods manufactured $ 30,000 $ 4,828 $ 59,900 $ 89,000 $ 4,160 Total manufacturing costs added to production Total manufacturing costs to account for $ 0 Required 2 > 0 0
Transcribed Image Text: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 Inventories Raw materials. Work in process Finished goods Beginning $ 11,800 $ 55,700 $ 33,500 Required: 1. Prepare a schedule of cost of goods manufactured. 2. Prepare a schedule of cost of goods sold. 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 Direct materials: Prepare a schedule of cost of goods manufactured. Total raw materials available Ending $ 18,800 $ 69,500 $ 42,200 Raw materials used in production Primare Corporation Schedule of Cost of Goods Manufactured Direct materials used in production Cost of goods manufactured $ 30,000 $ 4,828 $ 59,900 $ 89,000 $ 4,160 Total manufacturing costs added to production Total manufacturing costs to account for $ 0 Required 2 > 0 0
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