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The following cost data relate to the manufacturing activities of Chang Company during the just completed year: Actual manufacturing overhead costs incurred: Indirect materials $15,000
The following cost data relate to the manufacturing activities of Chang Company during the just completed year: Actual manufacturing overhead costs incurred: Indirect materials $15,000 Indirect labor 130,000 Property taxes, factory 8,000 Utilities, factory 70,000 Depreciation, factory 240,000 Insurance, factory 10,000 Total actual manufacturing overhead costs incurred $473,000 Other costs charged to jobs: Direct materials $375,000 Direct labor cost $60,000 Inventories: Work in process, beginning $40,000 Work in process, ending $70,000 The company uses a predetermined overhead rate to apply overhead cost to production. The rate for the year was $25 per machine-hour. A total of 19,400 machine-hours was recorded for the year. Compute the amount of underapplied or overapplied overhead cost for the year. (Input the amount as positive value. Omit the "$" sign in your response.) Overapplied/Underapplied? by how much? Determine the cost of goods manufactured for the year using the indirect method. (Omit the "$" sign in your response.) Cost of goods manufactured $
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