Question: Accouting help I got some of these wrong and I need help with question 2 please, thank You! Exercise 3-3 (Algo) Schedules of Cost of

 Accouting help I got some of these wrong and I need

Accouting help I got some of these wrong and I need help with question 2 please, thank You!

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 $ 31,000 Indirect materials used in production $ 4,600 Direct labor $ 58,000 Manufacturing overhead applied to work $ 87,200 in process Underapplied overhead $ 4,080 Inventories Beginning Ending Work in $ $ process 55,900 66,300 Raw materials $ $ 11,800 18,200 Finished $ $ goods 34,500 43,900 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 Required 1 Prepare a schedule of cost of goods manufactured for the month. Primare Corporation Schedule of Cost of Goods Manufactured Beginning work in process inventory $ 55,900 Direct materials: Beginning raw materials inventory $ 11,800 Add: Purchases of raw materials 31,000 Total raw materials available 42,800 Less: Ending raw materials inventory 18,700 Raw materials used in production 24,100 Less: Indirect materials used in production 4,600 Direct materials used in production $ 19,500 Direct labor 58,000 Manufacturing overhead DI 77,500 Ending raw materials inventory 155,000 Total manufacturing costs added to 310,000 production Total manufacturing costs to account for 365,900 Less: Ending work in process inventory 66.300 3 Cost of goods manufactured 742,200

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!