1. Compute a predetermined overhead rate. 2. Prepare schedules of cost of goods manufactured and cost of goods sold. XU .. HOME Cost of Goods Manufactured and Cost of Goods Sold - Excel PAGE LAYOUT FORMULAS DATA REVIEW VIEW FILE INSERT De Cells . Editing Paste B IU - - > . A . Alignment Number Conditional Format as Cell Formatting Table Styles Clipboard Font Styles F2 X V 1 Stanford Enterprises uses job-order costing. 2 The allocation base for overhead is direct labor hours. 4 Data for the year just ended: 5 Estimated total manufacturing overhead cost 6 Estimated total direct labor hours 7 Actual total direct labor hours $ 275,000 25,000 27,760 9 Actual costs for the year: 10 Purchase of raw materials (all direct) 11 Direct labor cost 12 Manufacturing overhead costs $375,000 $536,300 $302,750 14 Inventories: 15 Raw materials (all direct) 16 Work in process I 17 Finished onde Beginning 15,000 27,875 34 600 $ $ S Ending 11,375 22,350 26450 1. Compute a predetermined overhead rate. 2. Prepare schedules of cost of goods manufactured and cost of goods sold. x ? 5. HOME Calori - Sign FILE INSERT - Cost of Goods Manufactured and Cost of Goods Sold - Excel PAGE LAYOUT FORMULAS DATA REVIEW VIEW A A Alignment Number Conditional Format as Cell Formatting Table Styles 5 Styles DO Paste - Cells Editing Book Clipboard Font Print SP 34,600 $ 17 Finished goods $ 34,600 $ 26,450 Terences 19 Use the data to answer the following. 21 1. Compute applied overhead and determine the amount of underapplied or overapplied overhead: 22 Actual manufacturing overhead cost 23 Predetermined overhead rate 24 Actual direct labor hours 25 Manufacturing overhead applied 26 27 Underapplied (overapplied) manufacturing overhead 28 29 2. Prepare a schedule of cost of goods manufactured: Stanford Enterprises Schedule of Cost of Goods Manufactured FILE 5. 3 Cost of Goods Manufactured and Cost of Goods Sold - Excel HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW % Calibri .111-AA = % H D Paste B I U . A . Alignment Number Conditional Format as Cell Formatting Table Styles Clipboard Font Styles F2 vix fe Cells - Editing Manufacturing overhead applied Underapplied (overapplied) manufacturing overhead 29 2. Prepare a schedule of cost of goods manufactured: Stanford Enterprises Schedule of Cost of Goods Manufactured 33 Direct materials: 34 Raw materials inventory, beginning 35 Add: Purchases of raw materials 36 Total raw materials available 37 Deduct: Raw materials inventory, ending 38 Raw materials used in production 39 Direct labor 40 Manufacturing overhead applied to work in process 141 Total manufacturing costs