The following cost data relate to the manufacturing activities of Chang Company during the just completed year:
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Question:
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 costs - $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
Manufacturing Overhead
Actual Overhead Applied Overhead
$473,000 $485,000
$12,000 was overapplied
HELP WITH THIS:
Prepare a schedule of the cost of goods manufactured for the year.
Related Book For
Managerial Accounting for Managers
ISBN: 978-0073527130
2nd edition
Authors: Eric Noreen, Peter Brewer, Ray Garrison
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