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HI There to whoevere may be helping me. I need the excel equations that would equate to the correct answer for the yellow boxes. Thank
HI There to whoevere may be helping me. I need the excel equations that would equate to the correct answer for the yellow boxes. Thank you so much for all your help everyone!
A B D E Stanford Enterprises uses job-order costing. The allocation base for overhead is direct labor hours. Data for the year just ended: Estimated total manufacturing overhead cost Estimated total direct labor hours Actual total direct labor hours $ 275,000 25,000 27,760 7 Actual costs for the year: Purchase of raw materials (all direct) Direct labor cost Manufacturing overhead costs 1 $375,000 $536,300 $302,750 2 3 4 Inventories: 5 Raw materials (all direct) Work in process 7 Finished goods 8 9 Use the data to answer the following. Beginning $ 15,000 $ 27,875 $ 34,600 $ $ $ Ending 11,375 22,350 26,450 Use the data to answer the following. 1. Compute applied overhead and determine the amount of underapplied or overapplied overhead: Actual manufacturing overhead cost Predetermined overhead rate Actual direct labor hours Manufacturing overhead applied Underapplied (overapplied) manufacturing overhead 2. Prepare a schedule of cost of goods manufactured: Stanford Enterprises Schedule of Cost of Goods Manufactured Direct materials: Raw materials inventory, beginning Add: Purchases of raw materials Total raw materials available Deduct: Raw materials inventory, ending Raw materials used in production Direct labor Manufacturing overhead applied to work in process A B F G 9 Direct labor 10 Manufacturing overhead applied to work in process 11 Total manufacturing costs 12 Add: Beginning work in process inventory 13 14 Deduct: Ending work in process inventory 15 Cost of goods manufactured 16 17 3. Prepare a schedule of cost of goods sold. 18 19 Stanford Enterprises 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 50 59 50Step by Step Solution
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