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7 May 2018
EXERCISE 3-6 Schedules of Cost of Goods Manufactured and Cost of Goods Sold [LO3-6] Primare Corporation has provided the following data concerning last month's manufacturing operations. $30,000 $5,000 $58,000 $87,000 $4,000 Purchases of raw materials ........... Indirect materials included in manufacturing overhead ........ Direct labor ........ Manufacturing overhead applied to work in process ........ Underapplied overhead ........ Inventories Beginning Raw materials ............ $12,000 Work in process.. $56,000 Finished goods $35,000 Ending $18,000 $65,000 $42,000 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.
EXERCISE 3-6 Schedules of Cost of Goods Manufactured and Cost of Goods Sold [LO3-6] Primare Corporation has provided the following data concerning last month's manufacturing operations. $30,000 $5,000 $58,000 $87,000 $4,000 Purchases of raw materials ........... Indirect materials included in manufacturing overhead ........ Direct labor ........ Manufacturing overhead applied to work in process ........ Underapplied overhead ........ Inventories Beginning Raw materials ............ $12,000 Work in process.. $56,000 Finished goods $35,000 Ending $18,000 $65,000 $42,000 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.
Bunny GreenfelderLv2
8 May 2018
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Primare Corporation has provided the following data concerninglast monthâs manufacturing operations.
| Purchases of raw materials | $ | 32,000 |
| Indirect materials included inmanufacturing overhead | $ | 4,530 |
| Direct labor | $ | 59,300 |
| Manufacturing overhead appliedto work in process | $ | 87,600 |
| Underapplied overhead | $ | 4,060 |
| Inventories | Beginning | Ending | ||
| Raw materials | $ | 11,400 | $ | 19,300 |
| Work in process | $ | 54,400 | $ | 66,300 |
| Finished goods | $ | 33,800 | $ | 43,300 |
Required:
1. Prepare a schedule of cost of goods manufactured for themonth.
2. Prepare a schedule of cost of goods sold for the month.Assume the underapplied or overapplied overhead is closed to Costof Goods Sold.
Prepare a schedule of cost of goods manufactured for themonth.
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Prepare a schedule of cost of goods sold for the month. Assumethe underapplied or overapplied overhead is closed to Cost of GoodsSold.
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