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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Mason Company provided the following data for this year: Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs Inventories Raw materials Work in process Finished goods Beginning $ 8,600 $ 5,800 $ 71,000 Ending $ 10,800 $ 20,000 $ 25,400 $ 653,000 $ 82,000 $ 133,000 $ 106,000 $ 45,000 $ 223,000 $ 201,000 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. 2. Prepare a schedule of cost of goods sold. Assume the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. 3. Prepare an income statement.
A partial listing of costs incurred during December at Gagnier Corporation appears below: Factory Supplies Administrative wages and salaries Direct materials Sales staff salaries Factory depreciation Corporate headquarters building rent Indirect labor Marketing Direct labor 89,000 325,000 O 310,000 $8,000.00 O 399,000 $105,000.00 $153,000.00 $68,000.00 $49,000.00 $34,000.00 The total of the period costs listed above for December is: $32,000.00 $103,000.00 $83,000.00
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The following cost data relate to the manufacturing activities of ABC Company during the just completed year: Manufacturing overhead costs incurred: Indirect materials $ 16,900 Indirect labor 149,000 Property taxes, factory 9,900 Utilities, factory 89,000 Depreciation, factory 316,900 Insurance, factory 11,900 Total actual manufacturing overhead costs incurred $ 593,600 Other costs incurred: Purchases of raw materials (both direct and indirect) $ 419,000 Direct labor cost $ 79,000 Inventories: Raw materials, beginning $ 21,900 Raw materials, ending $ 31,900 Work in process, beginning $ 41,900 Work in process, ending $ 71,900 The company uses a predetermined overhead rate of $28 per machine-hour to apply overhead cost to jobs. A total of 21,600 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…
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