following cost data relate to the manufacturing activities of Chang Company during the just completed 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 $ 16,400 144,000 9,400 84,000 210,900 11,400 $ 476,100 $ 414,000 $ 74,000 Complete this question by entering your answers in the tabe below $ 21,400 $ 31,400 $ 41,400 $ 71,400 he company uses a predetermined overhead rate of $23 per machine-hour to apply overhead cost to jobs. A total of 21,100 machir Ours were used during the year. equired: Compute the amount of underapplied or overapplied overhead cost for the year. Prepare a schedule of cost of goods manufactured for the year.
following cost data relate to the manufacturing activities of Chang Company during the just completed 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 $ 16,400 144,000 9,400 84,000 210,900 11,400 $ 476,100 $ 414,000 $ 74,000 Complete this question by entering your answers in the tabe below $ 21,400 $ 31,400 $ 41,400 $ 71,400 he company uses a predetermined overhead rate of $23 per machine-hour to apply overhead cost to jobs. A total of 21,100 machir Ours were used during the year. equired: Compute the amount of underapplied or overapplied overhead cost for the year. Prepare a schedule of cost of goods manufactured for the year.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:es
2. Prepare a schedule of cost of goods manufactured for the year.
Complete this question by entering your answers in the tabs below.
Required 1 Required 2
Prepare a schedule of cost of goods manufactured for the year.
Chang Company
Schedule of Cost of Goods Manufactured
Direct materials:
Beginning raw materials inventory
Add: Purchases of raw materials
Total raw materials available
Add: Ending raw materials inventory
Raw materials used in production
Less: Indirect materials used in production
Direct materials used in production
Manufacturing overhead applied to work in process
Cost of goods manufactured
Total manufacturing costs added to production
Total manufacturing costs to account for
Less: Beginning work in process inventory.
Cost of goods manufactured i
$
< Required 1
21,400
414,000
435,400
31,400
404,000
16,400
$ 387,000
74,000
485,300
946,900
946,900
71,400
$916,900
Required 2 >
![Exercise 3-7 (Algo) Applying Overhead; Cost of Goods Manufactured [LO3-3, LO3-4]
The following cost data relate to the manufacturing activities of Chang Company during the just completed 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.
Complete this question by entering your answers in the tabs below.
The company uses a predetermined overhead rate of $23 per machine-hour to apply overhead cost to jobs. A total of 21,100 machine-
hours were used during the year.
Required 1
$ 16,400
144,000
9,400
84,000
210,900
11,400
$ 476,100
Required:
1. Compute the amount of underapplied or overapplied overhead cost for the year.
2. Prepare a schedule of cost of goods manufactured for the year.
Required 2
$ 414,000
$ 74,000
Prepare a schedule of cost of goods manufactured for the year.
$ 21,400
$ 31,400
$ 41,400
$ 71,400](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc7fe5a73-45e4-4166-8ba1-50e355550dfc%2Fa01c94d5-9fe3-4446-8d0e-aa726989d74b%2Fu51u9e_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Exercise 3-7 (Algo) Applying Overhead; Cost of Goods Manufactured [LO3-3, LO3-4]
The following cost data relate to the manufacturing activities of Chang Company during the just completed 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.
Complete this question by entering your answers in the tabs below.
The company uses a predetermined overhead rate of $23 per machine-hour to apply overhead cost to jobs. A total of 21,100 machine-
hours were used during the year.
Required 1
$ 16,400
144,000
9,400
84,000
210,900
11,400
$ 476,100
Required:
1. Compute the amount of underapplied or overapplied overhead cost for the year.
2. Prepare a schedule of cost of goods manufactured for the year.
Required 2
$ 414,000
$ 74,000
Prepare a schedule of cost of goods manufactured for the year.
$ 21,400
$ 31,400
$ 41,400
$ 71,400
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