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Morgarella [4.7K]
3 years ago
13

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

$ 32,000 Indirect materials included in manufacturing overhead $ 4,680 Direct labor $ 59,300 Manufacturing overhead applied to work in process $ 87,100 Underapplied overhead $ 4,100 Inventories Beginning Ending Raw materials $ 11,200 $ 20,000 Work in process $ 56,000 $ 68,500 Finished goods $ 34,900 $ 43,700 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.
Business
1 answer:
skad [1K]3 years ago
7 0

Answer and Explanation:

1. The Preparation of schedule of cost of goods manufactured for the month is prepared below:-

Primare Corporation

Schedule of Cost of Goods manufactured

Particulars                                                             Amount

Direct Materials:

Beginning Raw Material                      $11,200

Add: Raw Material purchases

during the month                                 $32,000

Total Raw Material available              $43,200

Less: Ending Raw material                   $20,000

Raw Material used in production         $23,200

Less: Indirect Material included in

manufacturing Overhead                       $4,680  $18,520

Add: Direct labor                                                   $59,300

Add: Manufacturing overhead

applied to work in process                                    $87,100

Total Manufacturing Costs                                   $164,920

Add: Beginning Work In Process                           $56,000

Less:  Ending Work in Process                               $68,500

Cost of Goods manufactured                                $152,420

2. The Preparation of schedule of cost of goods sold for the month is prepared below:-

Primare Corporation

Schedule of Cost of Goods Sold

Particulars                                                             Amount

Beginning finished Goods Inventory                    $34,900

Add: Cost of Goods Manufactured                       $152,420

Goods available for sale                                        $187,320

Less: Finished Goods Inventory, Ending               $43,700

Unadjusted cost of goods sold                             $143,620

Add: Under-applied Overhead                               $4,100

Cost of Goods Sold adjusted                                 $147,720

(Under-applied overhead refers that there was less overhead applied that is Actual overheads are more than the overhead applied, thus adding to the cost of the goods sold)

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Answer:

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Explanation:

Giving the following information:

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2 years ago
R. C. Barker makes purchasing decisions for his company. One product that he buys costs $50 per unit when the order quantity is
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Answer:

a. 300

d. 200

Explanation:

EOQ = \sqrt{(2 * Annual demand * ordering cost) / holding cost } \\

2 * 7500 * 30 / 0.5

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When price is $48 per unit

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When the order is for 300 price is $50

Total cost = $1,500 + $30 + $15,000 = $16,530

When the order is for 306 price is $50

Total cost = $1,530 + $30 + $15,300 = $16,860

When the order is for 200 price is $50

Total cost = $1,000 + $30 + $10,000 = $11,030

The best two possible order quantities are 200 and 300 which results in minimum total cost.

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3 years ago
2. What are the main costs associated with higher education? Why might the financial burden of college actually be economically
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The major expenses or costs that are associated with higher education are tuition and fees, books and suppliers, room and board, personal expenses, and transportation.

<h3>What do you mean by costs?</h3>

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The major costs associated with education are books and suppliers, tuition and fees, room and board, and transportation.

Growing demand, rising financial aid, and exploding costs of administrators are the reasons that led to the increase in college costs.

The financial burden of college will be worthwhile having higher lifetime earnings, indirect financial benefits jobs, etc.

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In the United States, about $5,200 per person per year is spent on health care, while in Britain the amount is about half that.
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Answer:

The answer is: C) The money spent on health care in the United States is not being used effectively.

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The only possible explanation is that the American health care system is not as efficient as the British health care system, therefore health care is more expensive.

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2 years ago
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Answer: $74,000

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8 0
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