relate to the manufacturing activities of the Kookabuka Company during the most recent year Manufacturing...
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Accounting
relate to the manufacturing activities of the Kookabuka Company during the most recent year Manufacturing overhead costs incurred during the year Property taxes Utilities, factory Indirect labour Depreciation, factory Insurance, factory Total actual costs S1.600 2.600 5,100 13,000 2,500 $24,800 Other costs incurred during the year Purchases of raw materials $15,000 Direct labour cost 22,000 Inventories Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending $ 5,000 4,400 3,500 4,500 The company uses a predetermined overhead rate to charge overhead cost to production. The rate for the year just completed was $4.00 per machine hour, a total of 6,000 machine hours were recorded for the year Required a. Compute the amount of under- or overapplied overhead cost for the year just ended. (2 Marks) b. Prepare a schedule of cost of goods manufactured for the year. (8 Marks)
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