1. Overapplied overhead cost = Manufacturing overhead applied - Actual manufacturing overhead costs
= (12,300 MH × $5) - 47,300
= 61,500 - 47,300
= $ 14,200
2.
BLACK COMPANY | ||
SCHEDULE OF COST OF GOODS MANUFACTURED | ||
$ | $ | |
Direct materials: | ||
Beginning Raw materials inventory | 9,000.00 | |
Add: Raw materials purchases | 32,600.00 | |
Raw materials available for use | 41,600.00 | |
Less: Ending Raw materials inventory | (6,300.00) | |
Raw materials used in production | 35,300.00 | |
Direct labor | 40,000.00 | |
Manufacturing Overhead applied cost applied to work in process | 61,500.00 | |
Total manufacturing costs | 136,800.00 | |
Add: Beginning Work in process inventory | 5,800.00 | |
Total cost of work in process | 142,600.00 | |
Less: Ending Work in process inventory | (7,800.00) | |
Cost of goods manufactured | 134,800.00 | |
Exercise 4-12 Applying Overhead. Cost of Goods Manufactured CLO4-2, L04-4, L04-6] The following cost data relate...
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Exercise 3-7 Applying Overhead; Cost of Goods Manufactured (LO3-3, LO3-4) The following cost data relate to the manufacturing activities of Chang Company during the just completed year: $ 15,600 136,000 8,600 76,000 250, 700 10,600 $497,500 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...
Exercise 3-7 Applying Overhead; Cost of Goods Manufactured [LO3-3, LO3-4] The following cost data relate to the manufacturing activities of Chang Company during the just completed year: Manufacturing overhead costs incurred: Indirect materials $ 15,300 Indirect labor 133,000 Property taxes, factory 8,300 Utilities, factory 73,000 Depreciation, factory 152,100 Insurance, factory 10,300 Total actual manufacturing overhead costs incurred $ 392,000 Other costs incurred: Purchases of raw materials (both direct and indirect) $ 403,000 Direct labor cost $ 63,000 Inventories: Raw...
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Exercise 3-7 (Algo) Applying Overhead; Cost of Goods Manufactured [LO3-3, LO3-4] 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...
3 Exercise 3-7 (Algo) Applying Overhead; Cost of Goods Manufactured [LO3-3, LO3-4) The following cost data relate to the manufacturing activities of Chang Company during the just completed year sints eBook $ 16,300 143,000 9,300 83,800 149, 100 11,300 $ 412,000 Print References 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...