Business, 14.10.2020 01:01 glogang6670

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 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

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Prepare a schedule of cost of goods manufactured for the year.

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