Chang Company provided the following data for this year: Manufacturing overhead costs incurred: Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs incurred Other costs incurred: Purchases of raw materials (both direct and indirect) Direct labor cost Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $ 16,200 142,000 9,200 82,000 169,900 11,200 $ 430,500 $ 412,000 $ 72,000 $ 21,200 $ 31,200 $ 41,200 $ 71,200 The company uses a predetermined overhead rate of $21 per machine-hour to apply overhead cost to jobs. A total of 20,9 machine-hours were used during the year. Required: 1. Compute the underapplied or overapplied overhead cost. 2. Prepare a schedule of cost of goods manufactured. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the underapplied or overapplied overhead cost. overhead cost < Prev 3 of 4 Next >
Chang Company provided the following data for this year: Manufacturing overhead costs incurred: Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs incurred Other costs incurred: Purchases of raw materials (both direct and indirect) Direct labor cost Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $ 16,200 142,000 9,200 82,000 169,900 11,200 $ 430,500 $ 412,000 $ 72,000 $ 21,200 $ 31,200 $ 41,200 $ 71,200 The company uses a predetermined overhead rate of $21 per machine-hour to apply overhead cost to jobs. A total of 20,9 machine-hours were used during the year. Required: 1. Compute the underapplied or overapplied overhead cost. 2. Prepare a schedule of cost of goods manufactured. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the underapplied or overapplied overhead cost. overhead cost < Prev 3 of 4 Next >
Chapter1: Financial Statements And Business Decisions
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