1. Compute a predetermined overhead rate. 2. Prepare schedules of cost of goods manufactured and cost of goods sold. Cost of Goods Manufactured and Cost of Goods Sold - Excel FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Calibri 11 - ' % Paste BIU 4 Clipboard Font Cell Alignment Number Conditional Format as Formatting Table Styles Styles Cells Editing A1 fx Stanford Enterprises uses job-order costing. B C D 1 Stanford Enterprises uses job-order costing. 2 The allocation base for overhead is direct labor hours. 3 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 8 9 Actual costs for the year: Purchase of raw materials (all direct) Manufacturing overhead costs E $ 275,000 25,000 27,760 10 $375,000 11 Direct labor cost $536,300 12 $302,750 13 14 Inventories: Beginning Ending 15 Raw materials (all direct) $ 16 Work in process $ 15,000 $ 11,375 27,875 $ 22,350 17 Finished goods $ 34,600 $ 26,450 18 19 Use the data to answer the following. 20 F G H 21 1. Compute applied overhead and determine the amount of underapplied or overapplied overhead: 22 23 Actual manufacturing overhead cost Predetermined overhead rate Y Sign In A V