Excel SIM: Cost of Goods Manufactured and Cost of Goods Sold Compute a predetermined overhead rate. Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement.

X 5 Cost of Goods Manufactured and Cost of Goods Sold - Excel ? FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In % Calibri A A % M Paste BIU A. Cells Editing Alignment Number Conditional Format as Cell Formatting Table - Styles Styles Clipboard 6 Font F A1 X fxx Stanford Enterprises uses job-order costing. A B C D E F G 1 Stanford Enterprises uses job-order costing. 2 The allocation base for overhead is direct labor hours. 4 Data for the year just ended: 5 Estimated total manufacturing overhead cost $ 275,000 6 Estimated total direct labor hours 25,000 7 Actual total direct labor hours 27,760 8 9 Actual costs for the year: 10 Purchase of raw materials (all direct) $375,000 11 Direct labor cost $536,300 12 Manufacturing overhead costs $302,750 13 14 Inventories: Beginning Ending 15 Raw materials (all direct) $ 15,000 $ 11,375 16 Work in process $ 27,875 $ 22,350 17 Finished goods $ 34,600 $ 26,450 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 22 Sheet1 READY 118% Attempt(s) Hint Show Me Cost of Goods Manufactured and Cost of Goods Sold - Excel ? EX FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri 11 - A A De Paste B IU % Alignment Number Conditional Format as Cell Formatting - Table - Styles Styles Cells Editing Clipboard Font