Parmian Corporation has provided the following data concerning last month's manufacturing operations.
Purchases of raw materials $53,000.
Indirect materials included in manufacturing overhead - $8,000
Direct labor - $62,000
Manufacturing overhead applied to work in progress - $41,000
Underapplied overhead - $8,000
Inventories: beginning ending
Raw materials - $24,000 $6,000
work in process $41,000 $38,000
finished goods $86,000 $93,000
1. Prepare a schedule of cost of goods manufactured for the month.
2. Prepare a schedule of cost of goods sold for the month.
The expert prepares a schedule of cost of goods.