12 7 Aim Exercise 3-7 (Algo) Applying Overhead; Cost of Goods Manufactured (LO3-3, LO3-4] The following cost data relate to the manufacturing activities of Chang Company during the just completed year Manufacturing overhead costs incurred direct materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs incurred Other casts incurred Purchases of a saterials (both direct and Indirect) Direct labor c Inventor Raw materials, ending Work in process, beginning Mark in process, ending $17,000 150,000 20,000 30,000 147,000 12,000 $436,000 $420,000 $80,000 $ 22,000 $12,00 $42,000 $72,000 The company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. A total of 21,700 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 Required 2 Other costs incurreds Purchases of raw materials (both direct and indirect) Direct labor cost Inventories Raw wterials, beginning Rau materials, anding Priet Mark in process, beginning References $22,000 $72.000 Work in process, ending The company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. A total of 21,700 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 11 Required 21 Compute the amount of underapplied or overapplied overhead cost for the year. wwerhead cost Required 2 > 4 10 19 Required T Required 2 Prepare a schedule of cost of goods manufactured for the year. Direct material Chang Company Schedule of Cost of Goods Manufactured Total as materials availablo Raw matelas used in production Direct materials used in production Total manufacturing costs added to production Total manufacturing costs to account for Cast of goods manufactured Required 1 S 10 Hi frences Exercise 3-7 (Algo) Applying Overhead; Cost of Goods Manufactured [LO3-3, LO3-4] The following cost data relate to the manufacturing activities of Chang Company during the just completed year Manufacturing overhead costs incurred: Indirect materials Indirect abon Property factory sellinies, 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 Investor desp Ra materials, beginning Raw materials, ending work in process, beginning Work in process, ending 147,000 $22,000 542,000 $72,000 The company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs, A total of 21700 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. 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 Required Required 2 > Poet 71 Prepare a schedule of cost of goods manufactured for the year. Chang Company Schedule of Cost of Goods Manufactured Direct materials References 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