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The following cost data relate to the manufacturing activities of Crystal Corporation during the past...

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Accounting

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The following cost data relate to the manufacturing activities of Crystal Corporation during the past year. red (L06 - CC13; L07 - CC14) Manufacturing overhead costs incurred: Indirect materials Indirect labour Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual costs incurred Other costs incurred: Purchases of raw materials (both direct and indirect) Direct labour cost Inventories: Raw materials, beginning Raw materials, ending Work in process, beginning Work in process, ending 35,000 17,500 24,500 140,000 245,000 14,800 $ 476,000 $ 350,000 70,000 $ 31,000 42,000 51,900 81,000 The company uses a predetermined overhead rate to apply overhead cost to production. The rate for the year was $25 pe hour. A total of 20,000 machine-hours were recorded for the year. Required: 1. Compute the amount of under- or overapplied overhead cost for the year. overhead cost 2. Prepare a schedule of cost of goods manufactured for the year. CRYSTAL CORPORATION Schedule of Cost of Goods Manufactured Direct materials Raw materials available for use Raw materials used in production Total manufacturing costs Total work in process inventory Cost of goods manufactured

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