Chapter 3 HW The following cost data relate to the manufacturing activities of Chang Company during the just completed year points Skipped 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 $ 16,500 145,000 9.500 85,000 231,700 11,500 $499,200 eBook $415,000 $ 75,000 $ 21,500 $ 31,500 41.500 71,500 pet The company uses a predetermined overhead rate of $24 per machine-hour to apply overhead cost to jobs. A total of 21200 mach hours were used during the year. References 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the amount of underapplied or overapplied overhead cost for the year. overhead cost Connecteducation.com Chapter 3 HW 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 Chang Company Schedule of Cost of Goods Manufactured Direct materials: Beginning raw materials inventory Add: Purchases of raw materials Total raw materials available Less Ending raw materials inventory Raw materials used in production Less: Indirect materials Direct labor Manufacturing overhead applied to work in process Total manufacturing costs Add: Beginning work in process inventory S Less: Beginning work in process inventory Cost of goods manufactured