Question
In: Accounting
The following cost data relate to the manufacturing activities of Chang Company during the just completed...
The following cost data relate to the manufacturing activities of Chang Company during the just completed year: Manufacturing overhead costs incurred: Indirect materials $ 15,500 Indirect labor 135,000 Property taxes, factory 8,500 Utilities, factory 75,000 Depreciation, factory 230,700 Insurance, factory 10,500 Total actual manufacturing overhead costs incurred $ 475,200 Other costs incurred: Purchases of raw materials (both direct and indirect) $ 405,000 Direct labor cost $ 65,000 Inventories: Raw materials, beginning $ 20,500 Raw materials, ending $ 30,500 Work in process, beginning $ 40,500 Work in process, ending $ 70,500 The company uses a predetermined overhead rate of $24 per machine-hour to apply overhead cost to jobs. A total of 20,200 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.
Complete this question by entering your answers in the tabs below.
- Required 1
- Required 2
Compute the amount of underapplied or overapplied overhead cost for the year.
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Solutions
ekkarill92 answered 1 year agoRelated Solutions
The following cost data relate to the manufacturing activities of Chang Company during the just completed...
The following cost data relate to the manufacturing activities
of Chang Company during the just completed year:
Manufacturing overhead costs
incurred:
Indirect materials
$
16,000
Indirect labor
140,000
Property taxes, factory
9,000
Utilities, factory
80,000
Depreciation, factory
251,500
Insurance, factory
11,000
Total actual manufacturing
overhead costs incurred
$
507,500
Other costs incurred:
Purchases of raw materials (both
direct and indirect)
$
410,000
Direct labor cost
$
70,000
Inventories:
Raw materials, beginning
$
21,000
Raw materials, ending
$
31,000
Work...
The following cost data relate to the manufacturing activities of Chang Company during the just completed...
The following cost data relate to the manufacturing activities
of Chang Company during the just completed year:
Manufacturing overhead costs incurred:
Indirect materials
$
15,600
Indirect labor
136,000
Property taxes, factory
8,600
Utilities, factory
76,000
Depreciation, factory
250,700
Insurance, factory
10,600
Total actual manufacturing overhead costs incurred
$
497,500
Other costs incurred:
Purchases of raw materials (both direct and indirect)
$
406,000
Direct labor cost
$
66,000
Inventories:
Raw materials, beginning
$
20,600
Raw materials, ending
$
30,600
Work...
The following cost data relate to the manufacturing activities of Chang Company during the just completed...
The following cost data relate to the manufacturing activities
of Chang Company during the just completed year: Manufacturing
overhead costs incurred: Indirect materials $ 16,100 Indirect labor
141,000 Property taxes, factory 9,100 Utilities, factory 81,000
Depreciation, factory 149,700 Insurance, factory 11,100 Total
actual manufacturing overhead costs incurred $ 408,000 Other costs
incurred: Purchases of raw materials (both direct and indirect) $
411,000 Direct labor cost $ 71,000 Inventories: Raw materials,
beginning $ 21,100 Raw materials, ending $ 31,100 Work in...
The following cost data relate to the manufacturing activities of Chang Company during the just completed...
The following cost data relate to the manufacturing activities
of Chang Company during the just completed year: Manufacturing
overhead costs incurred: Indirect materials $ 16,600 Indirect labor
146,000 Property taxes, factory 9,600 Utilities, factory 86,000
Depreciation, factory 252,700 Insurance, factory 11,600 Total
actual manufacturing overhead costs incurred $ 522,500 Other costs
incurred: Purchases of raw materials (both direct and indirect) $
416,000 Direct labor cost $ 76,000 Inventories: Raw materials,
beginning $ 21,600 Raw materials, ending $ 31,600 Work in...
The following cost data relate to the manufacturing activities of Chang Company during the just completed...
The following cost data relate to the manufacturing activities
of Chang Company during the just completed year:
Manufacturing overhead costs incurred:
Indirect materials
$
15,100
Indirect labor
131,000
Property taxes, factory
8,100
Utilities, factory
71,000
Depreciation, factory
269,100
Insurance, factory
10,100
Total actual manufacturing overhead costs incurred
$
504,400
Other costs incurred:
Purchases of raw materials (both direct and indirect)
$
401,000
Direct labor cost
$
61,000
Inventories:
Raw materials, beginning
$
20,100
Raw materials, ending
$
30,100
Work...
The following cost data relate to the manufacturing activities of Chang Company during the just completed...
The following cost data relate to the manufacturing activities
of Chang Company during the just completed year: Manufacturing
overhead costs incurred: Indirect materials $ 15,300 Indirect labor
133,000 Property taxes, factory 8,300 Utilities, factory 73,000
Depreciation, factory 152,100 Insurance, factory 10,300 Total
actual manufacturing overhead costs incurred $ 392,000 Other costs
incurred: Purchases of raw materials (both direct and indirect) $
403,000 Direct labor cost $ 63,000 Inventories: Raw materials,
beginning $ 20,300 Raw materials, ending $ 30,300 Work in...
The following cost data relate to the manufacturing activities of Jako Company during the just completed...
The following cost data relate to the manufacturing activities
of Jako Company during the just completed year: Manufacturing
overhead costs incurred: Indirect materials . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
60,000 Indirect labor . . . . . . . . . ....
The following cost data relate to the manufacturing activities of Black Company during the just-completed year:...
The following cost data relate to the manufacturing activities
of Black Company during the just-completed year:
Manufacturing overhead costs:
Property taxes, factory
$
4,200
Utilities, factory
6,800
Indirect labour
12,400
Depreciation, factory
27,000
Insurance, factory
8,400
Total actual manufacturing
overhead costs
$
58,800
Other costs incurred:
Purchases of raw materials.
$
38,000
Direct labour cost
$
48,400
Inventories:
Raw materials, beginning
$
10,400
Raw materials, ending
$
8,200
Work in process, beginning
$
7,800
Work in process, ending
$
9,900...
The following cost data relate to the manufacturing activities of Black Company during the just-completed year:...
The following cost data relate to the manufacturing activities
of Black Company during the just-completed year:
Manufacturing overhead costs:
Property taxes, factory
$
3,900
Utilities, factory
6,350
Indirect labour
11,800
Depreciation, factory
26,250
Insurance, factory
7,800
Total actual manufacturing
overhead costs
$
56,100
Other costs incurred:
Purchases of raw materials.
$
36,500
Direct labour cost
$
46,300
Inventories:
Raw materials, beginning
$
9,800
Raw materials, ending
$
7,900
Work in process, beginning
$
7,350
Work in process, ending
$
9,300...
A company uses the manufacturing cost hierarchy to allocate costs to various activities. During the past...
A company uses the manufacturing cost hierarchy to allocate
costs to various activities. During the past year, it has
incurred:
Costs
Description
725,000
Product Development Costs
475,000
Materials handling costs
1,250,000
Production line labor costs
450,000
Production setup costs
250,000
Power costs (for cooling beer and running equipment)
875,000
Manufacturing facility management costs
A. Using the manufacturing cost hierarchy, what is the total
cost that would be classified as unit-level activity costs?
B. Using the manufacturing cost hierarchy, what is...
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