Ents 7 Skipped Book P nt 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 labor Property taxes, factory Utilities, 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 Inventories: t Raw materials, beginning $ 16,200 142,000 9,200 82,000 169,900 11,200 $ 430,500 $ 412,000 $ 72,000 es Raw materials, ending Work in process, beginning Work in process, ending $ 21,200 $ 31,200 $ 41,200 $ 71,200 The company uses a predetermined overhead rate of $21 per machine-hour to apply overhead cost to jobs. A total of 20,900 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. Required 1 Required 2 Compute the amount of underapplied or overapplied overhead cost for the year. overhead cost Homework Check my work 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 labor Property taxes, factory Utilities, 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 Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $ 16,200 142,000 9,200 82,000 169,900 11,200 $ 430,500 $ 412,000 $ 72,000 $ 21,200 $ 31,200 $ 41,200 $ 71,200 company uses a predetermined overhead rate of $21 per machine-hour to apply head cost to jobs. A total of 20,900 machine-hours were used during the year. ired: mpute the amount of underapplied or overapplied overhead cost for the year. pare a schedule of cost of goods manufactured for the year. mplete this question by entering your answers in the tabs below. Required 1 Required 2 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 otal manufacturing costs to account for Ost of goods manufactured < Required 1 Required 2