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U S Ur er 3 Homework Seved Help Save & EC Chec Manufacturing overhead costs incurred: Indirect materials Indirect labor Prope
Required i Required 2 Prepare a schedule of cost of goods manufactured for the year. Chang Company Schedule of Cost of Goods
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Statement showing cost of Goods Manufactured
Beginning WIP, January 1 $41,500.00
Direct Materials:
Direct Materials Inventory, January 1 $21,500.00
Direct Materials Purchased During The Year $415,000.00
Total Direct Materials Available For Use $436,500.00
Direct Materials Inventory, December 31 -$31,500.00
Direct Materials Used $405,000.00
Direct Labor $75,000.00
Manufacturing Overhead:
Indirect Material $16,500.00
Indirect Labor $145,000.00
Property Tax Factory $9,500.00
Utilities Factory $85,000.00
Depreciation Factory $231,700.00
Insurance Factory $11,500.00
Total Manufacturing Overhead $499,200.00
Total Manufacturing Costs $979,200.00
Total Cost Of WIP During The Year $1,020,700.00
Ending Wip, December 31 -$71,500.00
Cost Of Goods Manufactured During The Year $949,200.00
Computation of Under applied / Over applied Overhead
Applied Overhead ( 21200 Machine HourX $24) $508,800.00
Actual Manufacturing Overhead $499,200.00
Over applied Overhead $9,600.00
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