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Help Save& The following cost data relate to the manufacturing activities of Chang Company during the just completed year Manu facturing overhead costs incurred: points Indirect labor Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs incurred s 16,600 146,000 9,600 86,000 252,700 eBook $522, 500 Purchases of raw materials (both direct and indirect) Direct labor cost $416,000 $ 76,000 s 21,600 Raw materials, ending Work in process, beginning Work in process, ending s 41,600 s 71,600 The company uses a predetermined overhead rate of $25 per machine-hour to apply overhead cost to jobs A total of 21,300 machine hours were used during the year Required: 1. Compute the amount of underapplied or o 2. Prepare a schedule of cost of goods manufactured for the year verapplied overhead cost for the year. Prey 6 of9 Next >
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Answer #1
1
Actual Manufacturing overhead costs 522500
Manufacturing overhead applied 532500 =21300*25
Overapplied overhead cost 10000
2
Direct materials:
Raw materials inventory, beginning 21600
Add: Purchases of raw materials 416000
Raw materials available for use 437600
Less: Raw materials inventory, ending 31600
Raw materials used in production 406000
Less: Indirect materials 16600 389400
Direct labor 76000
Manufacturing overhead cost applied to work in process 532500
Total manufacturing costs 997900
Add: Work in process inventory, beginning 41600
1039500
Less: Work in process inventory, ending 71600
Cost of goods manufactured 967900
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