Excel SIM: Cost of Goods Manufactured and Cost of Goods Sold 1. Compute a predetermined overhead rate. 2. Prepare schedules of cost of goods manufactured and cost of goods sold. KA ? ? 1 Cost of Goods Manufactured and Cost of Goods Sold - Excel PAGE LAYOUT FORMULAS DATA REVIEW VIEW FILE HOME INSERT Sign In i Calibri 11 - A Dolc Paste BIU % Alignment Number Conditional Format as Cell Formatting Table Styles Styles Cells Clipboard Font E35 V X fx D F G H 1 antora Enterprises uses joo-order cosong, 2 he allocation base for overhead is direct labor hours. 3 4 ata for the year just ended: 5 stimated total manufacturing overhead cost 6 stimated total direct labor hours 7 ctual total direct labor hours $ 275,000 25,000 27,760 5375,000 5536,300 5302,750 9 ctual costs for the year. 10 Purchase of raw materials (all direct) 11 Direct labor cost 12 Manufacturing overhead costs 13 14 ventories: 15 Raw materials (all direct) 16 Work in process 17 Finished goods Beginning 5 15,000 5 27,875 $ 34,600 Ending $ 11,375 $ 22,350 $ 26,450 18 19 se the data to answer the following. 20 22 23 24 Compute applied overhead and determine the amount of underapplied or overapplied overhead: Actual manufacturing overhead cost Predetermined overhead rate Actual direct labor hours Sheet1 Excel SIM: Cost of Goods Manufactured and cost of Goods Sold 1. Compute a predetermined overhead rate. 2. Prepare schedules of cost of goods manufactured and cost of goods sold. X ? 1 r x Cost of Goods Manufactured and Cost of Goods Sold - Excel PAGE LAYOUT FORMULAS DATA REVIEW VIEW FILE HOME INSERT Sign In Calibri 11 A A % Paste BIU Cells Alignment Number Conditional Format as Cell Formatting Table Styles Styles Clipboard Font G E35 X f fx D G H 20 21 22 Compute applied overhead and determine the amount of underapplied or overapplied overhead: 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 Prepare a schedule of cost of goods manufactured: 30 31 Stanford Enterprises 32 Schedule of Cost of Goods Manufactured 33 irect materials: 34 Raw materials inventory, beginning 35 Add: Purchases of raw materials 36 Total raw materials available 37 Deduct: Raw materials inventory, ending 38 Raw materials used in production 39 irect labor 40 fanufacturing overhead applied to work in process 41 tal manufacturing costs 42 dd: Beginning work in process inventory stal cost of work in process Sheet1 43 Excel SIM: Cost of Goods Manufactured and Cost of Goods Sold 1. Compute a predetermined overhead rate. 2. Prepare schedules of cost of goods manufactured and cost of goods sold. XH ? 6 x Cost of Goods Manufactured and cost of Goods Sold - Excel PAGE LAYOUT FORMULAS DATA REVIEW VIEW FILE HOME INSERT Sign in Calibri 11 . Paste BIU- % Alignment Number Conditional Format as Cell Formatting Table Styles Styles Cells Clipboard Font E35 V X D G H 41 37 WELL WEISHEILUTY, CHRIS 38 Raw materials used in production 39 irect labor 40 tanufacturing overhead applied to work in process stal manufacturing costs 42 dd: Beginning work in process inventory 43 stal cost of work in process 44 educt: Ending work in process inventory ost of goods manufactured 46 47 Prepare a schedule of cost of goods sold. 45 48 54 49 Stanford Enterprises SO Schedule of Cost of Goods Sold 51 52 nished goods inventory, beginning 53 dd: Cost of goods manufactured ost of goods available for sale 55 educt: Finished goods inventory, ending 56 nadjusted cost of goods sold 57 nderapplied (overapplied) overhead 58 djusted cost of goods sold 59 60 Sheet1
