The following cost data relate to the manufacturing activities of Chang Company during the just completed year:

Manufacturing overhead costs incurred:
Indirect materials	$	15,600
Indirect labor		136,000
Property taxes, factory		8,600
Utilities, factory		76,000
Depreciation, factory		250,700
Insurance, factory		10,600
Total actual manufacturing overhead costs incurred	$	497,500
Other costs incurred:
Purchases of raw materials (both direct and indirect)	$	406,000
Direct labor cost	$	66,000
Inventories:
Raw materials, beginning	$	20,600
Raw materials, ending	$	30,600
Work in process, beginning	$	40,600
Work in process, ending	$	70,600

The company uses a predetermined overhead rate of $25 per machine-hour to apply overhead cost to jobs. A total of 20,300 machine-hours were used during the year.

Required:

2. Prepare a schedule of cost of goods manufactured for the year.

Prepare a schedule of cost of goods manufactured for the year.

Chang Company
Schedule of Cost of Goods Manufactured
Direct materials:
Beginning raw materials inventory correct	$20,600 answer correct
Add: Purchases of raw materials correct	390,400 (answer incorrect)
Total raw materials available	411,000 (answer incorrect)
Add: Ending raw materials inventory (answer incorrect)	30,600 correct
Raw materials used in production	380,400 (answer incorrect)
not attempted	not attempted	$380,400
Direct laborselected answer correct	not attempted	66,000 correct
Manufacturing overhead applied to work in process correct	not attempted	497,500 (answer incorrect)
Total manufacturing costs		943,900 (answer incorrect)
Add: Beginning work in process inventory correct		40,600 correct
		984,500
Less: Ending work in process inventory correct		70,600 correct
Cost of goods manufactured		$913,900 (answer incorrect)