Question

CI The following cost data relate to the manufacturing activities of Chang Company during the just completed year. Manufactur
Check my work Work in process, ending $ 70,500 The company uses a predetermined overhead rate of $24 per machine hour to appl
25 points ute the amount of underapplied or overapplied overhead cost for the year. 2. Prepare a schedule of cost of goods ma
your hswers in the tabs below. Required 1 Required 2 Prepare a schedule of cost of goods manufactured for the year. Chang Com
Required 1 Required 2 Prepare a schedule of cost of goods manufactured for the year. Chang Company Schedule of Cost of Goods
Prepare a schedule of cost of goods manufactured for the year. Chang Company Schedule of Cost of Goods Manufactured Direct ma
Required 1 Required 2 Prepare a schedule of cost of goods manufactured for the year. Chang Company Schedule of Cost of Goods
Direct materials. Total raw materials available Raw materials used in production s Add: Work in process inventory, beginning
Schedule of Cost of Goods Manufactured Direct materials: Total raw materials available Raw materials used in production Less:
0 0
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Answer #1

Solution

Requirement 1

$9,600 Overhead cost Overapplied

.

Requirement 2

CHANG COMPANY
Cost of Goods manufactured
Direct Material
Raw material Inventory Beginning $ 20,500
Raw material Purchased $ 405,000
Raw material available for use $ 425,500
Less: Indirect material used $ 15,500
Less: Raw material Inventory Ending $ 30,500
Direct Material Used $ 379,500
Direct labor $ 65,000
Manufacturing Overheads applied $ 484,800
Total manufacturing Cost $ 929,300
Add: Beginning Work in Progress $ 40,500
Total Cost of Work in Progress $ 969,800
Less: Ending Work in progress $ 70,500
Cost of Goods Manufactured $ 899,300

Working

Overheads applied $ 484,800
Actual overheads $ 475,200
Overheads Overapplied $ 9,600

.

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