1-Compute a predetermined overhead rate.

2-Prepare schedules of cost of goods manufactured and cost of goods sold.

3-Compute underapplied or overapplied overhead cost to close the balance in Manufacturing Overhead to the appropriate accounts.

Cost of Goods Manufactured and Cost of Goods Sold Excel FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Calibri 11 A A A Alignment Number Conditional Format as Cell Cells Editing Formatting Table Styles Paste Clipboard Font Styles M F22 1 Stanford Enterprises uses job-order costing. 2 The allocation base for overhead is direct labor hours. 4 Data for the year just ended 275,000 Estimated total manufacturing overhead cost 25,000 6 Estimated total direct labor hours 7 Actual total direct labor hours 27,760 9 Actual costs for the year 10 Purchase of raw materials (all direct) $375,000 $536,300 11 Direct labor cost 12 Manufacturing overhead costs $302,750 Ending Beginning 14 Inventories: 15,000 11,375 15 Raw materials (all direct) 27,875 22,350 16 Work in process 34,600 26,450 17 Finished goods 18 19 Use the data to answer the following. 20 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 Sheet1 Sign In