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  3. the following cost data relate to the manufacturin

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

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Accounting

The following cost data relate to the manufacturing activities of Chang Company during the just completed year:

Manufacturing overhead costs incurred:
Indirect materials $ 16,200
Indirect labor 142,000
Property taxes, factory 9,200
Utilities, factory 82,000
Depreciation, factory 169,900
Insurance, factory 11,200
Total actual manufacturing overhead costs incurred $ 430,500
Other costs incurred:
Purchases of raw materials (both direct and indirect) $ 412,000
Direct labor cost $ 72,000
Inventories:
Raw materials, beginning $ 21,200
Raw materials, ending $ 31,200
Work in process, beginning $ 41,200
Work in process, ending $ 71,200

The company uses a predetermined overhead rate of $21 per machine-hour to apply overhead cost to jobs. A total of 20,900 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.

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