Calibe 3 11 B&A 19 A Merge > General B C D E G H 1 2 Stanford Enterprises uses job-order costing. 3 Overhead is applied on the basis of direct labor hours. 4 5 The following information relates to the year just ended. 6 Data: 7 Estimated total overhead costs 8 Estimated total direct labor hours $275,000 25,000 27,760 9 Actual total direct labor hours 10 11 Actual costs for the year: 12 Purchase of raw (direct) materials $375,000 13 Direct labor cost $536,300 14 Manufacturing overhead $302,750 15 16 Inventories: Beginning Ending 17 Raw (Direct) Materials, $15,000 $11,375 18 Work in Process 19 Finished Goods 27,875 34,600 22,350 26,450 20 21 Required: 22 Use the data to fill in the following information. 23 4 se cells R6 to C18 from the given information to complete this question. If overhead is nuerannlied vnur answer should he dienlaved as a Graded Worksheet + Calculation Mode: Automatic Workbook Statistics Type here to search IT O E A B C D E F G H (Use cells B6 to C18 from the given information to complete this question. If overhead is overapplied, your answer should be displayed as a 24 negative value. All answers should be input and displayed as positive values.) 25 26 1. Overhead: 27 Actual overhead cost $302,750 28 Predetermined overhead rate $11.00 29 Actual direct labor hours 27,760 30 Total overhead applied 31 (Over) or under applied overhead 305,360 ($2,610) 32 36 37 38 33 2. Prepare a schedule of cost of goods manufactured: 34 35 (Use cells B6 to C18 from the given information to complete this question. All answers should be input and displayed as positive values.) Stanford Enterprises Schedule of Cost of Goods Manufactured 39 Direct materials: 40 Raw materials inventory, beginning $15,000 41 Add: Purchases of raw materials 375,000 42 Total raw materials available $390,000 43 Deduct: Raw materials inventory, ending 11,375 44 Raw materials used in production $378,625 45 Direct labor 536,300 AC Anelind soudscturinn undhood. 19 XV fx A 37 B C Stanford Enterprises 38 Schedule of Cost of Goods Manufactured 39 Direct materials: 40 Raw materials inventory, beginning $15,000 41 Add: Purchases of raw materials 375,000 42 Total raw materials available $390,000 43 Deduct: Raw materials inventory, ending 11,375 44 Raw materials used in production $378,625 45 Direct labor 536,300 46 Applied manufacturing overhead 47 Total manufacturing costs 48 Add: Beginning work in process inventory 49 Total cost of work in process 50 Deduct: Ending work in process inventory 51 Cost of goods manufactured 52 53 3. Prepare a schedue of cost of goods sold. 54 27,875 22,350 54 A B D E G H (Use cells B6 to C18 from the given information to complete this question. If overhead is overapplied, your answer should be displayed as a 55 negative value. All answers should be input and displayed as positive values.) 56 57 58 Stanford Enterprises Schedule of Cost of Goods Sold 59 Finished goods inventory, beginning $34,600 60 Add: Cost of goods manufactured 61 Cost of goods available for sale 62 Deduct: Finished goods inventory, ending 26,450 63 Unadjusted cost of goods sold 64 Underapplied (overapplied) overhead (2,610) 65 Adjusted cost of goods sold