The following cost data relate to the manufacturing activities of ABC Company during the just completed year: Manufacturing overhead costs incurred: Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs incurred Other costs incurred: Purchases of raw materials (both direct and indirect) Direct labor cost Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $ 15,200 132,000 8,200 72,000 152,400 10, 200 $ 390,000 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. $ 402,000 $ 62,000 $ 20,200 $ 30,200 $ 40,200 $ 70,200 The company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. A total of 19,900 machine- hours were used during the year.
The following cost data relate to the manufacturing activities of ABC Company during the just completed year: Manufacturing overhead costs incurred: Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs incurred Other costs incurred: Purchases of raw materials (both direct and indirect) Direct labor cost Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $ 15,200 132,000 8,200 72,000 152,400 10, 200 $ 390,000 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. $ 402,000 $ 62,000 $ 20,200 $ 30,200 $ 40,200 $ 70,200 The company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. A total of 19,900 machine- hours were used during the year.
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter6: Process Cost Accounting—additional Procedures; Accounting For Joint Products And By-products
Section: Chapter Questions
Problem 3E: The following data appeared in the accounting records of Craig Manufacturing Inc., which uses the...
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