Question

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 $ 404,000 $409,000 $ 69,000 $ 20,900 $ 30,900 $40.900 $ 70,900 The company uses a predetermined overhead rate of $20 per machine hour to apply overhead cost to jobs. A total of 20,60 machine-hours were used during the year. 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. Required 1 Required 2 Compute the amount of underapplied or overapplied overhead cost for the year. overhead cost

Answer 1

1) Applied overhead = 20600*20 = 412000

Actual overhead = 404000

Over applied overhead = 8000

2) Schedule of cost of goods manufactured

Direct material used
Beginning raw material	20900
Raw material purchase	409000
Raw material available for used	429900
Less: Ending raw material	-30900
Raw material used	399000
Less: Indirect material	-15900	383100
Direct labor		69000
Manufacturing overhead		412000
Total manufacturing cost		864100
Beginning work in process		40900
Total cost of work in process		905000
Less: Ending work in process		-70900
Cost of goods manufactured		834100