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All answers must be entered as equations 1. Compute a predetermined overhead rate, 2. Prepare schedules of cost of goods manufactured and cost of goods
All answers must be entered as equations
1. Compute a predetermined overhead rate, 2. Prepare schedules of cost of goods manufactured and cost of goods sold. x 5 ? - Cost of Goods Manufactured and Cost of Goods Sold - Excel PAGE LAYOUT FORMULAS REVIEW VIEW BX Sign In FILE HOME INSERT DATA Calibri 11 Paste BIU. Cells Editing A A 96 Alignment Number Conditional Format as Cell Formatting Table Styles Styles Lo Stanford Enterprises uses job-order costing. Clipboard Font AI 3 B D E F G G H 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 $ 275,000 25,000 27,760 8 $375,000 $536,300 $302.750 9 Actual costs for the year: 10 Purchase of raw materials (all direct) 11 Direct labor cost 12 Manufacturing overhead costs 13 14 Inventories: 15 Raw materials (all direct) 16 Work in process 17 Finished goods 18 19 Use the data to answer the following 20 Beginning s 15,000 $ 27.875 S 34,600 $ Ending 11,375 22.350 26,450 $ $ ? 2 5 X 0 Cost of Goods Manufactured and Cost of Goods Sold - Excel INSERT DATA FILE FORMULAS REVIEW PAGE LAYOUT Sign In HOME VIEW Calibri M - 11 A A % Cells Editing Paste BIU- Alignment Number Conditional Format as Cell Formatting" Table Styles Styles Clipboard Font B H G A1 X Stanford Enterprises uses job-order costing. A C D E F 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 25 Manufacturing overhead applied 26 27 Underapplied (overapplied) manufacturing overhead 28 29 2. Prepare a schedule of cost of goods manufactured: 30 31 Stanford Enterprises 32 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 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 PAGE LAYOUT FORMULAS DATA REVIEW VIEW FILE HOME INSERT Sign in Calibri - be - M Paste BIU Cells Editing 11 % BE BA Alignment Number Conditional Format as Cell Formatting Table Styles Styles for Stanford Enterprises uses job-order costing. Clipboard Font > Al v D E F G 38 B 36 Total raw materials available 37 Deduct: Raw materials inventory, ending Raw materials used in production 39 Direct labor 40 Manufacturing overhead applied to work in process 41 Total manufacturing costs 42 Add: Beginning work in process inventory 43 Total cost of work in process 44 Deduct: Ending work in process inventory 45 Cost of goods manufactured 46 47 3. Prepare a schedule of cost of goods sold. 48 49 Stanford Enterprises SO Schedule of Cost of Goods Sold 51 52 Finished goods inventory, beginning 53 Add: Cost of goods manufactured 54 Cost of goods available for sale 55 Deduct: Finished goods inventory, ending A1 : X fx Stanford Enterprises uses job-order costing. B E F G D 41 Total manufacturing costs 42 Add: Beginning work in process inventory 43 Total cost of work in process 44 Deduct: Ending work in process inventory 45 Cost of goods manufactured 46 47 3. Prepare a schedule of cost of goods sold. 48 49 Stanford Enterprises SO Schedule of Cost of Goods Sold 51 52 Finished goods inventory, beginning 53 Add: Cost of goods manufactured 54 Cost of goods available for sale 55 Deduct: Finished goods inventory, ending 56 Unadjusted cost of goods sold 57 Underapplied (overapplied) overhead 58 Adjusted cost of goods sold 59 60 Step by Step Solution
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