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Primare Corporation has provided the following data concerning last months manufacturing operations. ...

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Accounting

Primare Corporation has provided the following data concerning last months manufacturing operations.

Purchases of raw materials $ 30,000
Indirect materials used in production $ 4,770
Direct labor $ 58,800
Manufacturing overhead applied to work in process $ 88,900
Underapplied overhead $ 4,090

Inventories Beginning Ending
Raw materials $ 11,000 $ 18,800
Work in process $ 54,300 $ 69,500
Finished goods $ 34,100 $ 43,000

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 to Cost of Goods Sold.

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