HW Chpt 3 Due 8/20/20 i Saved 4 Exercise 3-7 (Static) Applying Overhead; Cost of Goods Manufactured [LO3-3, LO3-4] 3 points The following cost data relate to the manufacturing activities of Chang Company during the just completed year: Ot56:11 $ 15,000 130,000 B,000 70,000 240,000 10,000 $ 473.000 Book 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 $400,000 $ 60,000 Hing $ 20,000 $ 30,000 $ 40,000 $ 70,000 Print References The company uses a predetermined overhead rate of $25 per machine hour to apply overhead cost to jobs. A total of 19,400 machine- HW Chpt 3 Due 8/20/20 Saved 4 Complete this question by entering your answers in the tabs below. 3 points Required 1 Required 2 Prepare a schedule of cost of goods manufactured for the year. 8 01:55.10 s 40.000 eBook Chang Company Schedule of Cost of Goods Manufactured Beginning work in process inventory Direct materials Beginning raw materials inventory S 20,000 Add: Purchases of raw materials 30,000 Total raw materials available 50,000 2 Hint Print Raw materials used in production 375,000 References Direct materials used in production Direct labor Manufacturing overhead applied to work in process $ 375 000 60.000 485 000 Total manufacturing costs added to production Total manufacturing costs to account for Less Ending work in process inventory Cost of goods manufactured 920,000 950 000 70,000 $ 890,000