Primare Corporation has provided the following data concerning last month’s manufacturing operations. Purchases of raw materials…

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:
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.