File Home Insert Draw Formulas Data Review View Help A1 fx Accessibility tab summary: Year end data for Stanford Enterprise Actual costs for the year: \begin{tabular}{|l|l|l|l|} \hline 15 & & & \\ \hline 16 & Purchase of raw (direct) materials & $ & 375,000 \\ \hline 17 & Direct labor cost & $ & 536,300 \\ \hline 18 & Manufacturing overhead & $ & 302,750 \\ \hline 19 & & & \\ \hline \end{tabular} X fx Accessibility tab summary: Year end data for Stanford Enterprise is presented \begin{tabular}{lllllllll} A & B & C & D & E & F & G & H \\ \hline & & & & & & \end{tabular} 1 Calculate and dispose of overapplied or underapplied manufacturing overhead. Note: Use cell A2 to A2.3 from the given information to complete this question. Overhead: \begin{tabular}{|l|l|} \hline Actual overhead cost \\ \hline Predetermined overhead rate \\ \hline Actual direct labor hours \\ \hline Total overhead applied \\ \hline (Over) or under applied overhead \\ \hline \end{tabular} 2 Calculate the cost of goods manufactured and cost of goods sold. Note: Use cell A2 to A23 from the given information to complete this question. Enter all ending inventory amounts as neeative numhere 55 P Prepare an income statement for a manufacturing firm. Note: Use cell A2 to A23 from the given information to complete this question. Enter all ending inventory amounts as negative numbers. \begin{tabular}{|l|l|l|l|} \hline 58 & \multicolumn{1}{|c|}{ Stanford Enterprises } & \\ \hline 59 & \multicolumn{1}{|c|}{ Income Statement } & \\ \hline 60 & Sales revenue & & \\ \hline 61 & Less: Cost of Goods Sold & & \\ \hline 62 & Finished goods inventory, beginning & & \\ \hline 63 & Plus: Cost of goods manufactured & \\ \hline 64 & Less: Ending finished goods inventory & \\ \hline 65 & Unadjusted cost of goods sold & & \\ \hline 66 & Underapplied (overapplied) overhead & \\ \hline 67 & Adjusted cost of goods sold & \\ \hline 68 & Gross Profit & & \\ \hline 69 & Less: Selling, general, and administrative expenses (10\% of Sales) & \\ \hline 70 & Net Operating income & & \\ \hline 71 & & & \\ \hline 72 & & & \\ \hline \end{tabular}