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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 $ 15,400 134,000 8,400 74,000 Property taxes, factory. Utilities, factory Depreciation, factory Insurance, factory 191, 200 10,400 Total actual manufacturing overhead costs incurred $ 433,400 Other costs incurred: Purchases of raw materials (both direct and indirect) $ 404,000 Direct laber cost $ 64,000 Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning $ 20,400 $30,400 $ 40,400 $ 70,400 Work in process, ending The company uses a predetermined overhead rate of $22 per machine-hour to apply overhead cost to jobs. A total of 20,100 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 cont
Prepare a schedule of cost of goods manufactured for the year. Chang Company Schedule of Cost of Goods Manufactured Direct materials: Total raw materials available. Raw materials used in production Direct materials used in production Total manufacturing costs added to production Total manufacturing costs to account for Cost of goods manufactured < Required 1