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

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

Purchases of raw materials $ 31,000
Indirect materials used in production $ 4,970
Direct labor $ 58,600
Manufacturing overhead applied to work in process $ 88,200
Underapplied overhead $ 4,190
Inventories Beginning Ending
Raw materials $ 11,400 $ 19,900
Work in process $ 54,000 $ 65,500
Finished goods $ 34,900 $ 43,800
Required:
Prepare a schedule of cost of goods manufactured.
Prepare a schedule of cost of goods sold. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold.

#CostAccounting
#ManagerialAccounting
#Accounting
#Techniques