Parmitan Corporation has provided the following data concerning last month%u2019s manufacturing operations.
Purchases of raw materials $ 31,000
Indirect materials included in manufacturing overhead $ 4,940
Direct labor $ 58,500
Manufacturing overhead applied to work in process $ 87,800
Underapplied overhead $ 4,160
Beginning Ending
Inventories:
Raw materials $ 11,900 $ 19,200
Work in process $ 54,600 $ 68,900
Finished goods $ 34,600 $ 42,900
Required:
1. Prepare a schedule of cost of goods manufactured for the month. (Input all amounts as positive values.)
Parmitan Corporation
Schedule of Cost of Goods Manufactured
Direct materials:
$
:
:
Raw materials used in production
: $
Total manufacturing costs
:
:
Cost of goods manufactured $
2.
Prepare a schedule of cost of goods sold for the month. (Input all amounts as positive values.)
Parmitan Corporation
Schedule of Cost of Goods Sold
$
:
:
:
Adjusted cost of goods sold $