1. Overapplied Overhead cost [Refer working note] | $8,000 |
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Chang Company | ||
Schedule of Cost of Goods Manufactured | ||
Direct Materials: | ||
Raw materials inventory, beginning | $20,900 | |
Add: Purchases of raw materials | $409,000 | |
Total raw materials available | $429,900 | |
Less: Raw materials inventory, ending | $30,900 | |
Raw Materials used in production | $399,000 | |
Less: Indirect materials | $15,900 | $383,100 |
Direct labor | $69,000 | |
Manufacturing overhead cost applied to work in process [Refer working note] | $412,000 | |
Total manufacturing costs [$383,100 + $69,000 + $412,000] | $864,100 | |
Add: Work in Process inventory, beginning | $40,900 | |
$905,000 | ||
Less: Work in process inventory, ending | $70,900 | |
Cost of Goods Manufactured | $834,100 |
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Working note - Computation of Under-applied or Over-applied overhead | |
Predetermined Overhead rate (a) | $20 |
Number of machine hours (b) | 20,600 |
Manufacturing overhead cost applied to work in process (c = a x b) | $412,000 |
Actual manufacturing overhead cost incurred (d) | $404,000 |
Since the amount of manufacturing overhead applied ($412,000) is more than the manufacturing overhead cost incurred ($404,000), overhead is considered to be over-applied. | |
Over-applied overhead cost [c - d] | $8,000 |
The following cost data relate to the manufacturing activities of Chang Company during the just completed...
please answe soon 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 $ 15,900 139,000 8,900 79,000 150,300 10,900 $...
1 and 2 required The following cost data relate to the manufacturing activities of Chang Company during the just completed year: $ 15,900 139,000 8,900 79,000 150,300 10,900 $ 404,000 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...
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 16,300 143,000 9,300 83,000 149,100 11,300 $412,000 Other costs incurred: Purchases of raw materials (both direct and indirect) Direct labor cost $413,000 $ 73,000 Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending 21,300...
The following cost data relate to the manufacturing activities of Chang Company during the just completed year: $ 16,300 143,000 9,300 83,000 149,100 11,300 $412,000 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 $ 413,000 $...
The following cost data relate to the manufacturing activities of Chang Company during the just completed year: $ 15,000 130,000 8,000 70,000 240,000 10,000 $ 473,000 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 $ 400,000...
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 $ 15,200 132,000 8,200 72,000 152,400 10,200 $390,000 Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs incurred Other costs incurred: $ 402,000 $ 62,000 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,...
The following cost data relate to the manufacturing activities of Chang Company during the just completed year: $ 15,800 138,000 8,800 78,000 150,600 10,800 $ 402,000 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 $ 408,000...
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 $ 16,400 144,000 9,400 84,000 210,900 11,400 $ 476, 100 $...
The following cost data relate to the manufacturing activities of Chang Company during the just completed year: $ 16,100 141,000 9,100 81,000 149,700 11,100 $408,000 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 $411,000 $ 71,000...
The following cost data relate to the manufacturing activities of Chang Company during the just completed year: $ 16.500 145.000 9,5ee 85,000 231,700 11,500 $ 499, 2ee 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 $415.000...