ces Exercise 3-3 (Algo) Schedules of Cost of Goods Manufactured and Cost of Goods Sold [LO3-3]...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
ces Exercise 3-3 (Algo) Schedules of Cost of Goods Manufactured and Cost of Goods Sold [LO3-3] Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials used in production Direct labor Manufacturing overhead applied to work in process Underapplied overhead Inventories Beginning Ending Raw materials $ 11,600 $ 19,400 Work in process $ 55,800 $ 65,900 Finished goods $ 34,500 $ 43,600 $ 32,000 $ 4,860 $ 59,600 $ 88,500 $ 4,170 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a schedule of cost of goods manufactured for the month. Primare Corporation Schedule of Cost of Goods Manufactured ces Exercise 3-3 (Algo) Schedules of Cost of Goods Manufactured and Cost of Goods Sold [LO3-3] Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials used in production Direct labor Manufacturing overhead applied to work in process Underapplied overhead Inventories Beginning Ending Raw materials $ 11,600 $ 19,400 Work in process $ 55,800 $ 65,900 Finished goods $ 34,500 $ 43,600 $ 32,000 $ 4,860 $ 59,600 $ 88,500 $ 4,170 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a schedule of cost of goods manufactured for the month. Primare Corporation Schedule of Cost of Goods Manufactured
Expert Answer:
Answer rating: 100% (QA)
Answer a Schedule of cost of goods manufactured for the month Direct Material Used Raw Mater... View the full answer
Related Book For
Managerial Accounting
ISBN: 978-0697789938
13th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
Posted Date:
Students also viewed these accounting questions
-
Let I=ff(t) dt, and suppose we approximate the integral by R, and L. Put the numbers I, R and L, in order from smallest to largest in each of the following cases. Please draw pictures and write...
-
2 The energy of an isolated system in a process (a) can never increase (b) can never decrease (c) always remains constant (d) is always positive
-
Two small speakers emit sound waves of different frequencies equally in all directions. Speaker A has an output of 0.900 mW, and speaker B has an output of 1.80 mW. A Need Help? 1 I Submit Answer...
-
A health club has cost and revenue functions given by C = 10,000 + 35q and R = pq, where q is the number of annual club members and p is the price of a one year membership. The demand function for...
-
Refer to Data Set 25 "Fast Food" and use the drive through service times for Wendy's lunches. Begin with a lower class limit of 70 seconds and use a class width of 80 seconds. Does the distribution...
-
Deloitte Touche Tohamatsu surveyed British Columbia's top CEOs. According to the survey, 82% of the respondents like to have a computer on their desk. Suppose that a conference is being arranged in...
-
Several professionals are listed as being part of compliance efforts with regard to participation in the examination of potential compliance violations. Identify at least three other categories of...
-
The Lucky Seven Company is an international clothing manufacturer. Its Redmond plant will become idle on December 31, 2014. Peter Laney, the corporate controller, has been asked to look at three...
-
The database contains three tables containing information about this company's sales process: Inventory, Sales, and SalesItems. Use the Relationships window to link the tables together. The...
-
Shoe Company sells to a wholesaler in Germany. The purchase price of a shipment is 50,000 deutsche marks with term of 90 days. Upon payment, Shoe Company will convert the DM to dollars. The present...
-
Create a discussion post to share with your classmates about a few tips or tricks that help you prepare for an interview.If you have not yet experienced an interview, feel free to discuss strategies...
-
Discuss how you might advocate for social justice through an organizational policy change in your community using any strategy. Be sure to cite your sources. Points to consider: What is social...
-
Employees' perceptions of justice in their organization can impact important outcomes and should not be ignored. In this idea, positive changes in distributive, procedural, and interactional justice...
-
Using a criminal justice organization's functions and criminal justice employees, provide at least three examples of both positive and negative discipline.
-
Vacations Inc. has two telephone operators answering incoming phone calls. In addi- tion, one caller can be put in a waiting line if both operators are busy. If all three lines (two operators plus...
-
Several theories try to explain and defined equities but lead to different application in accounting, explain these theories and some applications in accounting? Use equity components in your...
-
Kenneth Hubbard has prepared the following list of statements about managerial accounting and financial accounting. 1. Financial accounting focuses on providing information to internal users. 2....
-
What does a flexible budget performance report do that a simple comparison of budgeted to actual results does not do?
-
See, I told you things would work out, said Barry Kresmier, president of Lomax Company. We expanded sales from $1.6 million to $2.0 million in 2009, nearly doubled our warehouse space, and ended the...
-
Provide the missing data in the following table for a distributor of martial arts products: Division Alpha Bravo Charlie Sales $11,500,000 S ? $ 920,000 $210,000 Net operating income ? Average...
-
Which of Chaterjis criticisms of MVO is/are valid? A. Only Criticism 1 B. Only Criticism 2 C. Both Criticism 1 and Criticism 2 Investment adviser Carl Monteo determines client asset allocations using...
-
Which of the characteristics put forth by Chaterji to describe the factor-based approach is/are correct? A. Only Characteristic 1 B. Only Characteristic 2 C. Both Characteristic 1 and Characteristic...
-
The change in the annual spending rate, in conjunction with the boards expectations regarding future enrollment and the need for endowment support, could justify that KUEs target weight for: A....
Study smarter with the SolutionInn App