Grades for Victoria Cu: IBM 4112. XQuestion 3 - Ch3 Review Assignm X +ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launch Url=https%253A%252F%252Fnewconnect.mheducation.com%252F#/acti... QCPP CanvasZoomBroncoDirect V zlibrary k KanopyMcGraw ACC2080 # Tableau IBM3302Tableau IBM3302 SVG Bundles Free SVG pf PNG Find DaFont.comCh3 Review Assignments iSavedHelpCheck my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion.3Prepare a scriedule of cost of goods manufactured for the year.> Answer is complete but not entirely correct.Complete this question by entering your answers in the tabs below.Required 1Required 2Prepare a schedule of cost of goods manufactured for the year.Chang CompanySchedule of Cost of Goods ManufacturedBeginning work in process inventoryDirect materials:Beginning raw materials inventoryS 20,300Add: Purchases of raw materialsTotal raw materials availableLess: Ending raw materials inventoryRaw materials used in productionLess: Indirect materials used in productionDirect materials used in productionDirect laborManufacturing overhead applied to work in processTotal manufacturing costs added to productionTotal manufacturing costs to account forLess: Ending work in process inventoryCost of goods manufactured← → Co OutlookA10pointsMcGrawHillType here to search403,000✔423,300✔30,300✔393,000✔15,300✔✔✔✔✔< Required 1$377,700881,00063,000✔400,000✔$ 40,3001,721,7001,762,000$ 810,70070,300✔Required 2 >8:< Prev99+O3 of 5cricutNext >F→Creative FabricaSave & Exit SubmitReturn to question81°F ^ 4x12:55 PM6/8/2022X:24) The following cost data relate to the manufacturing activities of Chang Company during the just completed year:Manufacturing overhead costs incurred:Indirect materialsIndirect labor$ 15,300133,0008,300Property taxes, factoryUtilities, factory73,000Depreciation, factory152,10010,300Insurance, factory$ 392,000Total actual manufacturing overhead costs incurredOther costs incurred:Purchases of raw materials (both direct and indirect)$403,000$ 63,000Direct labor costInventories:Raw materials, beginningRaw materials, ending$ 20,300$ 30,300Work in process, beginning$ 40,300Work in process, ending$ 70,300The company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. A total of 20,000machine-hours were used during the year.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.

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Business

Accounting

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 $ 15,300 133,000 8,300 Property taxes, factory Utilities, factory 73,000 Depreciation, factory Insurance, factory 152,100 10,300 $ 392,000 Total actual manufacturing overhead costs incurred Other costs incurred: Purchases of raw materials (both direct and indirect) $ 403,000 Direct labor cost $ 63,000 Inventories: Raw materials, beginning Raw materials, ending $ 20,300 $ 30,300 Work in process, beginning $ 40,300 Work in process, ending $ 70,300 The company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. A total of 20,000 machine-hours were used during the year. 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.

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 $ 15,300 133,000 8,300 Property taxes, factory Utilities, factory 73,000 Depreciation, factory Insurance, factory 152,100 10,300 $ 392,000 Total actual manufacturing overhead costs incurred Other costs incurred: Purchases of raw materials (both direct and indirect) $ 403,000 Direct labor cost $ 63,000 Inventories: Raw materials, beginning Raw materials, ending $ 20,300 $ 30,300 Work in process, beginning $ 40,300 Work in process, ending $ 70,300 The company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. A total of 20,000 machine-hours were used during the year. 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.

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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