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 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. Complete this question by entering your answers in the tabs below. The company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. A total of 20,600 machine-hours were used during the year. Required 1 Required 2 Compute the amount of underapplied or overapplied overhead cost for the year. $ 15,900 139,000 8,900 79,000 150,300 10,900 $ 404,000 overhead cost $ 409,000 $ 69,000 $ 20,900 $ 30,900 $ 40,900 $ 70,900
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 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. Complete this question by entering your answers in the tabs below. The company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. A total of 20,600 machine-hours were used during the year. Required 1 Required 2 Compute the amount of underapplied or overapplied overhead cost for the year. $ 15,900 139,000 8,900 79,000 150,300 10,900 $ 404,000 overhead cost $ 409,000 $ 69,000 $ 20,900 $ 30,900 $ 40,900 $ 70,900
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text: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
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.
Complete this question by entering your answers in the tabs below.
The company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. A total of 20,600
machine-hours were used during the year.
Required 1
Required 2
Compute the amount of underapplied or overapplied overhead cost for the year.
$ 15,900
139,000
8,900
79,000
150,300
10,900
$ 404,000
overhead cost
$ 409,000
$ 69,000
$ 20,900
$ 30,900
$ 40,900
$ 70,900
Transcribed Image Text:Prepare a schedule of cost of goods manufactured for the year.
Direct materials:
Chang Company
Schedule of Cost of Goods Manufactured
Total raw materials available
Raw materials used production
Direct materials used in production
Total manufacturing costs added to production
Total manufacturing costs to account for
Cost of goods manufactured
< Required 1
$
0
Required 2 >
0
0
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