Primare Corporation has provided the following data concerning last month\'s man

Question

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

   
Purchases of raw materials   $31,000
Indirect materials included in manufacturing overhead   $4,910
Direct labor   $59,000
Manufacturing overhead applied to work in process   $87,200
Underapplied overhead   $4,150

Inventories   Beginning   Ending
Raw materials   $11,900     $19,400
Work in process   $54,700     $67,300
Finished goods   $34,500     $42,400

Calculate the cost of goods manufactured for the month.

Calculate the cost of goods sold for the month.

Explanation / Answer

Cost of goods manufactured for the month=

raw material=11900+31000-19400=23500

Cost of goods manufactured for the month=23500+54700+59000+87200-67300=157100

Cost of goods sold for the month=34500+157100-42400=149200

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