50.1K
Verified Solution
Link Copied!
Primare Corporation has provided the following data concerning last months manufacturing operations.
| | | |
| Purchases of raw materials | $ | 32,000 |
| Indirect materials included in manufacturing overhead | $ | 4,590 |
| Direct labor | $ | 58,500 |
| Manufacturing overhead applied to work in process | $ | 87,400 |
| Underapplied overhead | $ | 4,190 |
| |
| Inventories | Beginning | Ending |
| Raw materials | $ | 11,100 | $ | 19,700 |
| Work in process | $ | 54,800 | $ | 65,800 |
| Finished goods | $ | 33,100 | $ | 43,000 |
| |
Required:
1. Prepare a schedule of cost of goods manufactured for the month.
| |
| | Prepare a schedule of cost of goods manufactured for the month. | | | | | Primare Corporation | | Schedule of Cost of Goods Manufactured | | Direct materials: | | | | | | | | | | | | Total raw materials available | | | | | | | | Raw materials used in production | | | | | | | | | | | | | | | | Total manufacturing costs | | | | | | | | | | | | | | | | Cost of goods manufactured | | | | |
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.
Prepare a schedule of cost of goods manufactured for the month.
| |
| | | Primare Corporation | | Schedule of Cost of Goods Manufactured | | Direct materials: | | | | | | | | | | | | Total raw materials available | | | | | | | | Raw materials used in production | | | | | | | | | | | | | | | | Total manufacturing costs | | | | | | | | | | | | | | | | Cost of goods manufactured | | | |
Answer & Explanation
Solved by verified expert
