dsu CSUN Campus Web Portal Google backboand rege The Common Application schedule

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dsu CSUN Campus Web Portal Google backboand rege The Common Application schedule classes pter 3 Homework 3 The following cost data relate to the manufacturing activities of Chang Company during the just completed year Manufacturing overhead costs incurred 15,100 131,000 Indirect mate factory 269,100 bepreelation, factory Total actual man facturing overhead costs iscurred Purchases ot raw saterials (both direct and indirect) factory 5401,000 61,000 5 20,100 30,100 70 10D aventorless erials, beginning Raw sat Raw materials, erding Work in process, beginaing Work in proceS, ending The company uses a predetermined overhead rate of $26 per machine-hour to apply overhead cost to jobs. A total of 19,800 machine- hours were used during the year Required: 1. Compute the amount of underappled 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 Prev 3 of 4Next> 3 5 6 8

Explanation / Answer

1 Actual manufacturing overhead costs $504,400 Manufacturing overhead cost applied: 19,800 MH x $26 per MH 514,800 Overapplied overhead cost $10,400 2 Chang Company Schedule of Cost of Goods Manufactured Direct materials: Raw materials inventory, beginning $20,100 Add purchases of raw materials 401,000 Raw materials available for use 421,100 Deduct raw materials inventory, ending 30,100 Raw materials used in production 391,000 Less indirect materials 15,100 $375,900 Direct labor 61,000 Manufacturing overhead cost applied to work in process 514,800 Total manufacturing costs 951,700 Add: Work in process, beginning 40,100 991,800 Deduct: Work in process, ending 70,100 Cost of goods manufactured $921,700

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