7 6 X 4. DR. FILE Sign in HOVE INSERT H Cost of Goods Manuatured and cost of Goods Sold Excel PAGE LAYOUT FORMULAS DATA REVIEW VIEW Corrections 21 Properties Reply testing Rae Connections Mots Advanced AS- Sort 5 Outline Sort Data Tools polit from from from from other A Web Text Source Get de AI Stanford Enterprises uses Job-order costing F G H C D 1 Stanford Enterprises Les job-order costine 2 Overhead is applied on the basis of direct labor hours The following information relates to the year just ended 4 Data: Estimated total overhead costs 3 275.000 6 Estimated total direct labor bours 25.000 2. Actual total direct labor hours 27.760 7. Actual costs for the year 10 Purchase of raw (direct) materials 5 375,000 A. 4. Acces Web Connections Advanced Text Sources Get temal Data Alle Edit Links Connections Tools Sortare AT f Stanford Enterprises uses job-order costing G H 5 points F 305,360 ook 305,360 2610 B c D 22 Actual overhead cost 23 Predetermined overhead rate -275,000/25,000 24 Actual direct labor hours 27,760 25 Total overhead applied 26 27 (Over) or under applied overhead 28 29 2. Prepare a schedule of cost of goods manufactured: 30 Stanford Enterprises 31 Cost of Good Manufactured Report 32 Direct materials 33 Beginning raw materials inventory (15,000) 34 Plus: Raw materials purchased 375,000 95 Less: Ending raw materials inventory 390.000 36 Raw materials used in production 4 15.000 G H B D E F 536,300 =305,360 1,220,285 27,875 -Sum(F36:F41) 1,225,810 37 Direct labor 38 Manufacturing overhead applied 39 Total current manufacturing costs 40 Plus: Beginning work in process inventory 41 Less: Ending work in process inventory 42 Cost of goods manufactured 43 44 3. Prepare an income statement 45 Stanford Enterprises 46 Income Statement 47 Sales revenue 48 Less: Cost of Goods sold 49 Finished goods inventory, beginning 50 Plus: Cost of goods manufactured 51 Less: Ending finished goods inventory 52 Unadjusted cost of goods sold 53 Underapplied (overapplied) overhead 54 Adjusted cost of goods sold + 8 $ 1,500,000 34,600 40+B42-340 4. 54 Adjusted cost of goods sold 55 Gross Profit 56 Less Selling general, and administrative expenses (10% of Sales) 57 Net Operating Income 58 59 80 61 5 points Pin Bence 1. Calculate and dispose of overapplied or underapplied manufacturing overhea 2. Calculate the cost of goods manufactured and cost of goods sold. 3. Prepare an income statement for a manufacturing firm. 7 6 X 4. DR. FILE Sign in HOVE INSERT H Cost of Goods Manuatured and cost of Goods Sold Excel PAGE LAYOUT FORMULAS DATA REVIEW VIEW Corrections 21 Properties Reply testing Rae Connections Mots Advanced AS- Sort 5 Outline Sort Data Tools polit from from from from other A Web Text Source Get de AI Stanford Enterprises uses Job-order costing F G H C D 1 Stanford Enterprises Les job-order costine 2 Overhead is applied on the basis of direct labor hours The following information relates to the year just ended 4 Data: Estimated total overhead costs 3 275.000 6 Estimated total direct labor bours 25.000 2. Actual total direct labor hours 27.760 7. Actual costs for the year 10 Purchase of raw (direct) materials 5 375,000 A. 4. Acces Web Connections Advanced Text Sources Get temal Data Alle Edit Links Connections Tools Sortare AT f Stanford Enterprises uses job-order costing G H 5 points F 305,360 ook 305,360 2610 B c D 22 Actual overhead cost 23 Predetermined overhead rate -275,000/25,000 24 Actual direct labor hours 27,760 25 Total overhead applied 26 27 (Over) or under applied overhead 28 29 2. Prepare a schedule of cost of goods manufactured: 30 Stanford Enterprises 31 Cost of Good Manufactured Report 32 Direct materials 33 Beginning raw materials inventory (15,000) 34 Plus: Raw materials purchased 375,000 95 Less: Ending raw materials inventory 390.000 36 Raw materials used in production 4 15.000 G H B D E F 536,300 =305,360 1,220,285 27,875 -Sum(F36:F41) 1,225,810 37 Direct labor 38 Manufacturing overhead applied 39 Total current manufacturing costs 40 Plus: Beginning work in process inventory 41 Less: Ending work in process inventory 42 Cost of goods manufactured 43 44 3. Prepare an income statement 45 Stanford Enterprises 46 Income Statement 47 Sales revenue 48 Less: Cost of Goods sold 49 Finished goods inventory, beginning 50 Plus: Cost of goods manufactured 51 Less: Ending finished goods inventory 52 Unadjusted cost of goods sold 53 Underapplied (overapplied) overhead 54 Adjusted cost of goods sold + 8 $ 1,500,000 34,600 40+B42-340 4. 54 Adjusted cost of goods sold 55 Gross Profit 56 Less Selling general, and administrative expenses (10% of Sales) 57 Net Operating Income 58 59 80 61 5 points Pin Bence 1. Calculate and dispose of overapplied or underapplied manufacturing overhea 2. Calculate the cost of goods manufactured and cost of goods sold. 3. Prepare an income statement for a manufacturing firm