Exercise 2-17 Applying Overhead; Cost of Goods Manufactured [LO5, LO6, LO8] [The following information applies to the questions displayed below.] The following cost data relate to the manufacturing activities of Chang Company during the just completed year: Manufacturing overhead costs incurred: Indirect materials $1,200 Indirect labor 10,000 Property taxes, factory 2,900 Utilities, factory 4,900 Depreciation, factory 23,900 Insurance, factory 5,900 Total actual manufacturing overhead costs incurred $48,800 Other costs incurred: Purchases of raw materials(both direct and indirect) $32,600 Direct labor cost $39,100 Inventories: Raw materials, beginning $8,400 Raw materials, ending $6,300 Work in process, beginning $5,900 Work in process, ending $6,500 The company uses a predetermined overhead rate to apply overhead cost to production. The rate for the year was $5 per machine-hour. A total of 11,300 machine-hours was recorded for the year.

Exercise 2-17 Applying Overhead; Cost of Goods Manufactured [LO5, LO6, LO8]

[The following information applies to the questions displayed below.]

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

Manufacturing overhead costs incurred:
Indirect materials	$1,200
Indirect labor	10,000
Property taxes, factory	2,900
Utilities, factory	4,900
Depreciation, factory	23,900
Insurance, factory	5,900
Total actual manufacturing overhead costs incurred	$48,800
Other costs incurred:
Purchases of raw materials(both direct and indirect)	$32,600
Direct labor cost	$39,100
Inventories:
Raw materials, beginning	$8,400
Raw materials, ending	$6,300
Work in process, beginning	$5,900
Work in process, ending	$6,500

The company uses a predetermined overhead rate to apply overhead cost to production. The rate for the year was $5 per machine-hour. A total of 11,300 machine-hours was recorded for the year.

Exercise 2-17 Requirement 2

Requirement 2:

Prepare a schedule of cost of goods manufactured for the year. (Input all amounts as positive values. Omit the "$" sign in your response.)

Chang Company Schedule of Cost Goods Manufactured
Direct materials:
Raw materials inventory, beginning	$
Add : Purchase of raw materials
Raw materials available for use
Deduct : Raw materials inventory, ending
Raw materials used in production
Deduct : Indirect materials		$
Direct labor
Manufacturing overhead cost applied to work in process
Total manufacturing cost
Add : Work in process, beginning
Deduct : Work in process, ending
Cost of goods manufactured		$