Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

drop down options for box 1 (on top of Direct Materials): Beginning work in process inventory Ending raw materials inventory Ending work in process inventory

image text in transcribedimage text in transcribed

drop down options for box 1 (on top of Direct Materials):

Beginning work in process inventory

  • Ending raw materials inventory
  • Ending work in process inventory
  • Manufacturing overhead cost
  • Purchases of raw materials

drop down options for box 3 (under Direct Materials):

  • Beginning raw materials inventory
  • Cost of goods manufactured
  • Direct labor
  • Manufacturing overhead applied to work in process

drop down options for box 4:

  • Add: Ending raw materials inventory
  • Add: Ending work in process inventory
  • Add: Indirect materials used in production
  • Add: Manufacturing overhead cost
  • Add: Purchases of raw materials
  • Less: Ending raw materials inventory
  • Less: Ending work in process inventory
  • Less: Indirect materials used in production
  • Less: Manufacturing overhead cost

drop down options for box 6:

  • Add: Ending raw materials inventory
  • Add: Ending work in process inventory
  • Add: Indirect materials used in production
  • Add: Manufacturing overhead cost
  • Add: Purchases of raw materials
  • Less: Ending raw materials inventory
  • Less: Ending work in process inventory
  • Less: Indirect materials used in production
  • Less: Manufacturing overhead cost
  • Less: Purchases of raw materials

drop down options for box 8:

  • Add: Ending raw materials inventory
  • Add: Ending work in process inventory
  • Add: Indirect materials used in production
  • Add: Manufacturing overhead cost
  • Add: Purchases of raw materials
  • Less: Ending raw materials inventory
  • Less: Ending work in process inventory
  • Less: Indirect materials used in production
  • Less: Manufacturing overhead cost
  • Less: Purchases of raw materials

drop down options for box 10:

  • Beginning raw materials inventory
  • Cost of goods manufactured
  • Direct labor
  • Manufacturing overhead applied to work in process

drop down options for box 11:

  • Beginning raw materials inventory
  • Cost of goods manufactured
  • Direct labor
  • Manufacturing overhead applied to work in process

drop down options for box 12:

  • Beginning raw materials inventory
  • Cost of goods manufactured
  • Direct labor
  • Manufacturing overhead applied to work in process

drop down options for box 15:

  • Less: Beginning work in process inventory
  • Less: Ending raw materials inventory
  • Less: Ending work in process inventory
  • Less: Manufacturing overhead cost
  • Less: Purchases of raw materials
  • Less: Indirect materials included in manufacturing overhead

The company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. A total of 19,900 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. Compute the amount of underapplied or overapplied overhead cost for the year. Required 1 Required 2 Prepare a schedule of cost of goods manufactured for the year. Chang Company Schedule of Cost of Goods Manufactured

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions