Business, 21.07.2020 16:01, dxnimxriee

The following cost data relate to the manufacturing activities of Chang Company during the just completed year: Manufacturing overhead costs incurred:
Indirect materials $16,800
Indirect labor 148,000
Property taxes, factory 9,800
Utilities, factory 88,000
Depreciation, factory 295,300
Insurance, factory 11,800
Total actual manufacturing overhead costs incurred $569,700
Other costs incurred:
Purchases of raw materials (both direct and indirect) $418,000
Direct labor cost $78,000
Inventories:
Raw materials, beginning $21,800
Raw materials, ending $31,800
Work in process, beginning $41,800
Work in process, ending $71,800
The company uses a predetermined overhead rate to apply overhead cost to jobs. The rate for the year was $27 per machine-hour. A total of 21,500 machine-hours was recorded for 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:
Chang Company
Schedule of cost of Goods Manufactured
Direct materials:
Raw materials are available for use 0
Raw materials used in production 0
$0
Total manufacturing costs 0
Cost of goods manufactured $0

Answers: 2

Show answers

Other questions on the subject: Business

Business, 22.06.2019 03:20, limelight11

Yael decides that she no longer enjoys her job, and she quits to open a gluten-free, dairy-free kosher bakery. she pays a monthly rent for her store of $2,000. her labor costs for one month are $4,500, and she spends $6,000 a month on nut flours, sugar, and other supplies. yael was earning $2,500 a month working as a bank teller. these are her only costs. her monthly revenue is $14,000. which of the following statements about yael’s costs and profit are correct? correct answer(s) an accountant would say she is earning a monthly profit of $1,500. her implicit costs are $2,500 a month. an economist would tell her that she is experiencing a loss. her total costs are $12,500 a month. her explicit costs include the labor, rent, and supplies for her store. her economic profit is $1,500 a month.

Answers: 3

continue

Business, 22.06.2019 06:30, Shavaila18

Select all that apply. what do opponents of minimum wage believe are the results of minimum wage? increases personal income results in job shortages causes unemployment raises prices of goods

Answers: 1

continue

Business, 22.06.2019 08:00, browneyedbaby20

Lavage rapide is a canadian company that owns and operates a large automatic car wash facility near montreal. the following table provides data concerning the company’s costs: fixed cost per month cost per car washed cleaning supplies $ 0.70 electricity $ 1,400 $ 0.07 maintenance $ 0.15 wages and salaries $ 4,900 $ 0.30 depreciation $ 8,300 rent $ 1,900 administrative expenses $ 1,400 $ 0.03 for example, electricity costs are $1,400 per month plus $0.07 per car washed. the company expects to wash 8,000 cars in august and to collect an average of $6.50 per car washed. the actual operating results for august appear below. lavage rapide income statement for the month ended august 31 actual cars washed 8,100 revenue $ 54,100 expenses: cleaning supplies 6,100 electricity 1,930 maintenance 1,440 wages and salaries 7,660 depreciation 8,300 rent 2,100 administrative expenses 1,540 total expense 29,070 net operating income $ 25,030 required: calculate the company's revenue and spending variances for august.

Answers: 3

continue

Business, 22.06.2019 09:40, watervliet2586

The relationship requirement for qualifying relative requires the potential qualifying relative to have a family relationship with the taxpayer. t or fwhich of the following is not a from agi deduction? a. standard deductionb. itemized deductionc. personal exemptiond. none of these. all of these are from agi deductions

Answers: 3

continue

Do you know the correct answer?

The following cost data relate to the manufacturing activities of Chang Company during the just comp...