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 $24 per machine-hour to apply overhead cost to jobs. A total hours were used during the year. Required 1 Required 2 Compute the amount of underapplied or overapplied overhead cost for the year. $ 16,500 145,000 9,500 85,000 231,700 11,500 $ 499,200 overhead cost $ 415,000 $ 75,000 $ 21,500 $ 31,500 $ 41,500 $71,500

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 $24 per machine-hour to apply overhead cost to jobs. A total hours were used during the year. Required 1 Required 2 Compute the amount of underapplied or overapplied overhead cost for the year. $ 16,500 145,000 9,500 85,000 231,700 11,500 $ 499,200 overhead cost $ 415,000 $ 75,000 $ 21,500 $ 31,500 $ 41,500 $71,500

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Description: The following cost data relate to the manufacturing activities of Chang Company during the just completed year:Manufacturing overhead costs incurred:Indirect materialsIndirect laborProperty taxes, factoryUtilities, factoryDepreciation, factoryInsura

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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Zoe Corporation has the following information for the month of March: Cost of direct materials used in production Direct labor Factory overhead Work in process inventory, March 1 Work in process inventory, March 31 Finished goods inventory, March 1 Finished goods inventory, March 31 a. Determine the cost of goods manufactured. $ b. Determine the cost of goods sold. $17,517 24,466 32,234 15,678 18,439 24,791 22,979
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. The company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. A total of 20,800 machine-hours were used during the year. Chang Company Schedule of Cost of Goods Manufactured Beginning work in process inventory Direct materials: Beginning raw materials inventory Add: Purchases…
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