Business, 17.09.2019 20:30 SuperWoman9172
The following cost data relate to the manufacturing activities of chang company during the just completed year: manufacturing overhead costs incurred: indirect materials $ 15,000 indirect labor 130,000 property taxes, factory 8,000 utilities, factory 70,000 depreciation, factory 240,000 insurance, factory 10,000 total actual manufacturing overhead costs incurred $ 473,000 other costs incurred: purchases of raw materials (both direct and indirect) $ 400,000 direct labor cost $ 60,000 inventories: raw materials, beginning $ 20,000 raw materials, ending $ 30,000 work in process, beginning $ 40,000 work in process, ending $ 70,000 the company uses a predetermined overhead rate of $25 per machine-hour to apply overhead cost to jobs. a total of 19,400 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.
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