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Need help filling in what i have blank, please show any work. Thank you! The following cost data relate to the manufacturing activities of Chang
Need help filling in what i have blank, please show any work. Thank you!
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 Row materials, ending Work in process, beginning Work in process, ending $ 15,700 137,000 8,700 77,000 279,900 10,700 5.520.000 407,600 $ 67,000 $ 20,700 538,700 $ 40,700 70,700 The company uses a predetermined overhead rate of $26 per machine hour to apply overhead cost to jobs. A total of 20,400 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 Answer is not complete Complete this question by entering your answers in the tabs below. Required Required 2 Compute the amount of underapplied or overapplied overhead cost for the year. Overapplied overhead COSE $ 10,400 Answer is not complete. Complete 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. $ 40,700 Chang Company Schedule of Cost of Goods Manufactured Beginning work in process inventory Direct materials Beginning raw materials inventory $ 20,700 Add: Purchases of raw materials 407.000 Total raw materials available Less: Ending raw materials inventory 30,700 Raw materials used in production > > $ Direct materials used in production Direct labor Manufacturing overhead applied to work in process 0 67,000 Total manufacturing costs added to production Total manufacturing costs to account for Less Ending work in process inventory Cost of goods manufactured 67,000 107.700 70,700 Step by Step Solution
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