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Question - Primare Corporation has provided the following data concerning last month's manufacturing operations.
Purchases of raw materials $ 31,000
Indirect materials included in manufacturing overhead $ 4,610
Direct labor $ 58,600
Manufacturing overhead applied to work in process $ 87,100
Underapplied overhead $ 4,060
Inventories
Beginning
Ending
Raw materials
$11,100
$19,900
Work in process
$55,400
$68,500
Finished goods
$33,800
$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.
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