The following cost data relate to the manufacturing activities of Chang Company

Question

The following cost data relate to the manufacturing activities of Chang Company durling the just completed year $ 15,800 138,000 8,800 78,000 150,600 10,800 $402,000 Indirect labor Insurance, factory Total actual manufacturing overhead costs incurred Purchases of raw materials (both direct and indirect) Raw materials, beginning Work in process, beginning $408,000 $ 68,000 20,800 30,800 $ 40,800 $ 70,800 Work in process, ending The company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. A total of 20,500 machine-hours were used during the year. 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. & Answer is complete but not entirely correct Complete this question by entering your answers in the tabs below. Required 1 Required 2

Explanation / Answer

1) total actual manufacturing costs incurred 402,000 Applied MOH (20,500*$20)        410,000 overhead over applied             8,000 over applied overhead cost        8,000 2) Schedule of cost of Goods Manufactured Direct Materials Raw materials,beginning 20,800 purchase of raw materials 408,000 Raw materials available for use 428,800 Raw materials ending 30,800 Raw materials used in production 398,000 indirect materials 15,800 382,200 Direct labor 68,000 Manufacturing overhead applied 410,000 total manufacturing cost 860,200 Add:Work in process,beginning 40,800 901,000 less:Work in process ,ending 70,800 cost of goods manufactured 830,200

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