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 cost $ 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 The company uses a predetermined overhead rate to apply overhead cost to jobs. The rate for the year was $25 per machine-hour. A total of 19,400 machine-hours was recorded for the year. Prepare a schedule of cost of goods manufactured for the year.

Cost of Goods  Manufactured $893,000

Explanation:

Chang Company

Schedule of Cost of Goods Manufactured

Inventories: Raw materials, beginning $ 20,000

Add Purchases of raw materials  $ 400,000

Less Raw materials, ending $ 30,000

Direct Materials Used  $390,000

Direct labor cost $ 60,000

Manufacturing overhead Costs: $ 473,000

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 Costs 923,000

Add Work in process, beginning $ 40,000

Cost of Goods Available For Manufacture $ 963,000

Less Work in process, ending $ 70,000

Cost of Goods  Manufactured $893,000

Applied Overhead = Rate * Hours worked

                                = 25* 19,400=  485,000

The applied overhead is subtracted or added to the cost of goods sold amount. It is not accounted for in the schedule of cost of goods manufactured.

answer; i believe the correct answer is (treasury bills);

answer; signaling;