Answered step by step
Verified Expert Solution
Question
1 Approved Answer
help please I need to full out the parts in the yellow. A B D m F G Stanford Enterprises uses job-order costing. The allocation
help please I need to full out the parts in the yellow.
A B D m F G Stanford Enterprises uses job-order costing. The allocation base for overhead is direct labor hours. 5 + Data for the year just ended: Estimated total manufacturing overhead cost $ 275,000 5 Estimated total direct labor hours 25,000 - Actual total direct labor hours 27,760 3 Actual costs for the year: 0 Purchase of raw materials (all direct) $375,000 1 Direct labor cost $536,300 2 Manufacturing overhead costs $302,750 3 -4 Inventories: Beginning Ending 15 Raw materials (all direct) $ 15,000 $ 11,375 16 Work in process 27,875 S 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 23 Predetermined overhead rate 24 Actual direct labor hours Sheet1 UU Prey 1 of 1 Next A B c 23 Predetermined overhead rate 24 Actual direct labor hours 25 Manufacturing overhead applied 26 27 Underapplied (overapplied) manufacturing overhead 28 29 2. Prepare a schedule of cost of goods manufactured: 30 31 Stanford Enterprises 32 Schedule of Cost of Goods Manufactured 33 Direct 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 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 Sheet1 . Prey 1 of 1 Next B D E 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 47 3. Prepare a schedule of cost of goods sold. 48 49 Stanford Enterprises 50 Schedule of Cost of Goods Sold 51 52 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 59 60 61 62 Sheet1Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started