Question

The following cost data relate to the manufacturing activities of Black Company during the just completed year: $ 2,900 4,900

2. Prepare a schedule of cost of goods manufactured for the year using the indirect method. (Enter all deductions as a negati

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Answer #1
1
Applied overhead 51000 =10200*5
Less: Actual overhead 47500
Overapplied overhead cost 3500
2
Schedule of Cost Goods Manufactured
Direct materials:
Raw materials inventory, beginning 8400
Add: Purchase of raw materials 31400
Raw materials available for use 39800
Deduct: Raw materials inventory, ending (6300)
Raw materials used in production 33500
Direct labor 39000
Manufacturing overhead cost applied to work in process 51000
Total manufacturing cost 123500
Add: Work in process, beginning 5800
Deduct: Work in process, ending (7400)
Cost of goods manufactured 121900
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