Reference no: EM132590660

Primare Corporation has provided the following data concerning last month's manufacturing operations.

Purchases of raw materials $ 30,000

Indirect materials included in manufacturing overhead $ 5,000

Direct labor $ 58,000 Manufacturing overhead applied to work in process $ 87,000

Underapplied overhead $ 4,000

Inventories         Beginning            Ending

Raw materials        $ 12,000         $ 18,000

Work in process      $ 56,000          $ 65,000

Finished goods           $ 35,000        $ 42,000

Required:

Question 1. Show schedule of cost of goods manufactured for the month.

Question 2. Show schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold.