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Purchases of raw materials .... Indirect materiais Included in manufacturing overhead. 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... Work in process.. $12,000 $18,000 $56,000 $35,000 $65,000 $42,000 Finished goods

Purchases of raw materials .... Indirect materiais Included in manufacturing overhead. 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... Work in process.. $12,000 $18,000 $56,000 $35,000 $65,000 $42,000 Finished goods

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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Schedules of Cost of Goods Manufactured and Cost of Goods Sold

Primare Corporation has provided the following data concerning last month’s manufacturing operations.

Required:

a. Prepare a schedule of cost of goods manufactured for the month.

b. Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold.

Purchases of raw materials .... Indirect materiais Included in manufacturing overhead. 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... Work in process.. $12,000 $18,000 $56,000 $35,000 $65,000 $42,000 Finished goods
Transcribed Image Text:Purchases of raw materials .... Indirect materiais Included in manufacturing overhead. 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... Work in process.. $12,000 $18,000 $56,000 $35,000 $65,000 $42,000 Finished goods
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