Accounting

The following information was obtained from the accounting records of Feddersen Company:

Direct materials inventory, beginning                     $ 33,750

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Direct materials inventory, ending                           28,125

Work-in-process inventory, beginning                   –0–

Work-in-process inventory, ending                         18,750

Finished goods inventory, beginning                       16,875

Finished goods inventory, ending                             18,750

Direct materials purchased                                          187,500

Direct labor                                                                         122,500

Indirect labor                                                                     40,000

Depreciation, factory                                                     33,750

Depreciation, factory machinery                               17,500

Utilities, factory and machinery                                                 20,000

Insurance, factory and machinery                            12,500

Selling and administrative expenses                        70,000

Property taxes, factory                                                                 25,000

Manufacturing overhead, applied                            147,000

Required:

A. Determine the over- or under applied overhead for the period.

B. Prepare a cost of goods manufactured report.

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