What is the manufacturing overhead

Cash Raw materials inventory Work in process inventory Finished goods inventory Property, plant, and equipment Accumulated depreciation Common stock Retained earnings Total $20,000 1,800 2,400 4,200 15,000 $ 6,000 16,800 20,600 $ 43, 400 $43,400 Transactions for the Accounting Period 1. Fairport purchased $11,400 of direct raw materials and $600 of indirect raw materials on account. The indirect materials are capitalized in the Production Supplies account. Materials requisitions showed that $10,800 of direct raw materials had been used for production during the period. The use of indirect materials is determined at the end of the year by physically counting the supplies on hand. 2. By the end of the year, $10,500 of the accounts payable had been paid in cash. 3. During the year, direct labor amounted to 950 hours recorded in the Wages Payable account at $21 per hour. 4. By the end of the year, $18,000 of wages payable had been paid in cash. 5. At the beginning of the year, the company expected overhead cost for the period to be $12,600 and 1,000 direct labor hours to be worked. Overhead is allocated based on direct labor hours, which, as indicated in Event 3, amounted to 950 for the year. 6. Selling and administrative expenses for the year amounted to $1,800 paid in cash. 7. Utilities and rent for production facilities amounted to $9,300 paid in cash. 8. Depreciation on the plant and equipment used in production amounted to $3,000. 9. There was $24,000 of goods completed during the year. 10. There was $25,500 of finished goods inventory sold for $36,000 cash. 11. A count of the production supplies revealed a balance of $178 on hand at the end of the year. 12. Any over- or underapplied overhead is considered to be insignificant Req A Req B CGM Sched Req B Inc Stmt Req B Bal Sheet Prepare a schedule of cost of goods manufactured and sold. 1,800 11,400 13,200 2,400 10,800 FAIRPORT MANUFACTURING COMPANY Cost of Goods Manfactured and Sold For the Year Ended December, Year 3 Beginning raw materials inventory $ Purchases Raw materials available Ending raw materials inventory Raw materials used Manufacturing overhead Labor Total manufacturing costs Beginning work in process inventory Total work in process inventory Ending work in process inventory Cost of goods manufactured Beginning finished goods inventory Goods available Ending finished goods inventory Cost of goods sold 19,950 30,750 2,400 33,150 21,120 12,030 4,200 16,230 2,700 13,530 ( Req A Req B Inc Stmt>