The following cost data relate to the manufacturing activities of Black Company during the just completed year Manufacturing overhead costs incurred Property laxes, factory Usites, factory Indirect labor Depreciation, factory Insuranoe, factory S 2,800 4,800 9,800 23,900 5,900 Total actual manufacturing overhead costs $47,200 Other costs inoumed: Purchases of raw materials Direct labor cost Inventories Raw materials, beginsing Raw materials, ending Work in process, beginning $31,000 $39,300 S 8,400 $ 6,800 $ 5,700 $ 6,800 Work in process, ending The company uses a predetermined overhead rate to apply overhead cost to jobs. The rjte for the year was $5 per machine-hour; a total of 12,100 machine-hous was recorded for the year All raw materials ultimately become direct materials-none are classified as indirect materials Required: 1 Compute the amount of underapplied or overapplied overhead cost for the year. overhead cost Y O E R5 4 2. Prepare a schedule of cost of goods manufactured for the year using the indirect method. (Enter all deductions as a negative.) Black Company Schedule of Cost of Goods Manufactured Direct materials Raw materials available for use Raw materials used in production Total manufacturing cost Cost of goods manufactured References eBook & Resources Worksheet Learning Objective: 04-02 Apply overhead cost to jobs using a predetermined overhead rate Leaming Objective: 04-06 Use the indirect method to determine cost of goods sold Difficulty: 1 Easy Learning Objective: 04-04 Compute underapplied or overapplied overhead % 7 8 R Y S D G K I S4