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 - ... PAGE FORMULAS DATA REVIEW VIEW FILE HOME INSERT % A AlignmeNumbeonditionFormat Cell Cells Formattir as Styles Styles Calibri 11 ' ' Paste Clipboard BIU Font A1 B fx Stanford Enterprises uses job-order costing. 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) $ 15,000 $ 11,375 16 Work in process $ 27,875 $ 22,350 17 Finished goods $ 34,600 $ 26,450 18 19 Use the data to answer the following. 20 Sign In F G H 21 1. Compute applied overhead and determine the amount of underapplied or overapplied overhead: Actual manufacturing overhead cost Predetermined overhead rate 22 23 24 Actual direct labor hours ... Sheet1 READY Attempt(s) +100% Hint