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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 Required: 1. Compute the underapplied or overapplied overhepd cost. 2. Prepare a schedule of cost of goods manufactured. $ 16,600 146,000 9,600 86,000 252,700 11,600 $ 522,500 Complete this question by entering your answers in the tabs below. $ 416,000 $ 76,000 The company uses a predetermined overhead rate of $25 per machine-hour to apply overhead cost to jobs. A total of 21,300 machine- hours were used during the year. $ 21,600 $ 31,600 $ 41,600 $ 71,600

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 Required: 1. Compute the underapplied or overapplied overhepd cost. 2. Prepare a schedule of cost of goods manufactured. $ 16,600 146,000 9,600 86,000 252,700 11,600 $ 522,500 Complete this question by entering your answers in the tabs below. $ 416,000 $ 76,000 The company uses a predetermined overhead rate of $25 per machine-hour to apply overhead cost to jobs. A total of 21,300 machine- hours were used during the year. $ 21,600 $ 31,600 $ 41,600 $ 71,600

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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. Required: 1. Compute the underapplied or overapplied overhepd cost. 2. Prepare a schedule of cost of goods manufactured. $ 16,600 146,000 9,600 86,000 252,700 11,600 $ 522,500 Complete this question by entering your answers in the tabs below. $ 416,000 $ 76,000 The company uses a predetermined overhead rate of $25 per machine-hour to apply overhead cost to jobs. A total of 21,300 machine- hours were used during the year. $ 21,600 $ 31,600 $ 41,600 $ 71,600
Transcribed Image Text: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. Required: 1. Compute the underapplied or overapplied overhepd cost. 2. Prepare a schedule of cost of goods manufactured. $ 16,600 146,000 9,600 86,000 252,700 11,600 $ 522,500 Complete this question by entering your answers in the tabs below. $ 416,000 $ 76,000 The company uses a predetermined overhead rate of $25 per machine-hour to apply overhead cost to jobs. A total of 21,300 machine- hours were used during the year. $ 21,600 $ 31,600 $ 41,600 $ 71,600
Required 1 Required 2 Compute the underapplied or overapplied overhead cost. Prepare a schedule of cost of goods manufactured. Direct materials: overhead cost Total raw materials available Chang Company Schedule of Cost of Goods Manufactured Raw materials used in production Direct materials used in proaction Cost of goods manufactured Total manufacturing costs added to production Total manufacturing costs to account for < Required 1 < Required 1 Required 2 > MVT
Transcribed Image Text:Required 1 Required 2 Compute the underapplied or overapplied overhead cost. Prepare a schedule of cost of goods manufactured. Direct materials: overhead cost Total raw materials available Chang Company Schedule of Cost of Goods Manufactured Raw materials used in production Direct materials used in proaction Cost of goods manufactured Total manufacturing costs added to production Total manufacturing costs to account for < Required 1 < Required 1 Required 2 > MVT
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