ALL ANSWERS MUST BE PUT IN AS A FORMULA.

2 The allocation base for overhead is direct labor hours. 4 Data for the year just ended: 9 Actual costs for the year: 10 Purchase of raw materials (all direct) \begin{tabular}{c|ll} 11 & Direct labor cost & $375,000 \\ 12 & Manufacturing overhead costs & $536,300 \\ 13 & & $302,750 \end{tabular} 14 inventories: 15Rawmaterials(alldirect) 16 Work in process 17 18 Finished goods Use the data to answer the following. 1. Compute applied overhead and determine the amount of underapplied or overapplied overhead: Actual manufacturing overhead cost Predetermined overhead rate Actual direct labor hours Manufacturing overhead applied Underapplied (overapplied) manufacturing overhead Stanford Enterprises Schedule of Cost of Goods Manufactured Direct materials: Raw materials inventory, beginning Add: Purchases of raw materials Total raw materials available Deduct: Raw materials inventory, ending Raw materials used in production 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 3. Prepare a schedule of cost of goods sold. Stanford Enterprises Schedule of Cost of Goods Sold 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