Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials $32,000 $ 4,870 $58,700 $88,200 $ 4,130 Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Underapplied overhead Inventories Beginning $ 11,600 $ 54,300 $ 33,100 Ending $ 18,400 $ 66,400 $ 42,600 Raw materials Work in process Finished goods 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.

Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials $32,000 $ 4,870 $58,700 $88,200 $ 4,130 Indirect materials included in manufacturing overhead Direct labor Manufacturing overhead applied to work in process Underapplied overhead Inventories Beginning $ 11,600 $ 54,300 $ 33,100 Ending $ 18,400 $ 66,400 $ 42,600 Raw materials Work in process Finished goods 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.

Name: Primare Corporation has provided the following data concerning last m
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Description: Primare Corporation has provided the following data concerning last month's manufacturing operations.Purchases of raw materials$32,000$ 4,870$58,700$88,200$ 4,130Indirect materials included in manufacturing overheadDirect laborManufacturing overhead

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Betty DeRose, Inc. operates two departments, the handling department and the packaging department. During April, the handling department reported the following information: work in process, April 1 units started during April work in process, April 30 units 27,000 59,000 34,000 work in process, April 1 costs added during April total costs % complete DM 60% DM $ 25,310 $190,720 $216,030 70% The cost of beginning work in process and the costs added during April were as follows: % complete conversion 85% Conversion $191,175 $208,985 $400,160 40% Total cost $216,485 $399,705 $616,190 Calculate the total cost of the handling department's work in process inventory at April 30 using the weighted average process costing method.
Cost of Units Completed and in Process The charges to Work in Process-Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process-Assembly Department Bal., 6,400 units, 40% completed Direct materials, 116,000 units @ $6.25 45,760 To Finished Goods, 119,400 units 725,000 145,160 90,020 Direct labor Factory overhead Bal. 2 units, 25% completed a. Based on the above data, determine the different costs listed below. 1. Cost of beginning work in process inventory completed this period. 2. Cost of units transferred to finished goods during the period. 3. Cost of ending work in process inventory. 4. Cost per unit of the completed beginning work in process inventory, rounded to the nearest cent. b. Did the production costs change from the preceding period? 0000 ? c. Assuming that the direct materials cost per unit did not change from the preceding period, did the…
Zoe Corporation has the following information for the month of March: Cost of direct materials used in production $15,852 Direct labor 23,816 Factory overhead 39,444 Work in process inventory, March 1 20,490 Work in process inventory, March 31 21,368 Finished goods inventory, March 1 23,826 Finished goods inventory, March 31 25,639 a. Determine the cost of goods manufactured.$fill in the blank 1 b. Determine the cost of goods sold.$fill in the blank 2
Primare Corporation has provided the following data concerning last month’s manufacturing operations. Purchases of raw materials $ 30,000 Indirect materials used in production $ 4,570 Direct labor $ 58,600 Manufacturing overhead applied to work in process $ 88,700 Underapplied overhead $ 4,100 Inventories Beginning Ending Raw materials $ 10,700 $ 19,400 Work in process $ 54,700 $ 65,200 Finished goods $ 33,200 $ 42,900 Can you please help me with the following (also see attached image) Prepare a schedule of cost of goods manufactured and cost of goods sold for the month. ***Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold***
Prepare a schedule of cost of good manufactured.
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 Raw materials Work in process Finished goods Beginning $ 11, 200 $ 55,700 $ 33,700 Ending $ 19,900 $ 65,800 $ 42,800 $ 31,000 $ 4,940 $ 59,300 $ 87,600 $ 4,080 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.
Primare Corporation has provided the following data concerning last month’s manufacturing operations. Purchases of raw materials $ 31,000 Indirect materials used in production $ 4,860 Direct labor $ 59,700 Manufacturing overhead applied to work in process $ 88,100 Underapplied overhead $ 4,120 Inventories Beginning Ending Raw materials $ 11,500 $ 18,600 Work in process $ 54,000 $ 65,900 Finished goods $ 33,600 $ 42,400 Required: Prepare a schedule of cost of goods manufactured for the month. Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold.
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The following information pertains to Flaxman Manufacturing Company for April. Assume actual overhead equaled applied overhead. April 1 Inventory balances Raw materials Work in process Finished goods April 30 Inventory balances $123,500 118,600 76,400 $ 85,900 146,900 81,000 Raw materials Work in process Finished goods During April Costs of raw materials purchased Costs of direct labor $118,700 101,000 62,300 360,000 Costs of manufacturing overhead Sales revenues Required a. Prepare a schedule of cost of goods manufactured and sold. b. Calculate the amount of gross margin on the income statement.
Cost of Units Completed and in Process The charges to Work in Process—Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of production. Work in Process—Assembly Department Bal., 6,000 units, 55% completed 15,000 To Finished Goods, 138,000 units ? Direct materials, 141,000 units @ $1.4 197,400 Direct labor 207,100 Factory overhead 80,495 Bal., ? units, 25% completed ? Cost per equivalent units of $1.40 for Direct Materials and $2.10 for Conversion Costs. a. Based on the above data, determine the different costs listed below. If required, round your interim calculations to two decimal places. 1. Cost of beginning work in process inventory completed this period $fill in the blank 1 2. Cost of units transferred to finished goods during the period $fill in the blank 2 3. Cost of ending work in process inventory $fill in the blank 3 4.…