Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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!image text in transcribedimage text in transcribedimage text in transcribed

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 50

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting

Authors: Peter J. Eisen

5th Edition

0764135473, 9780764135477

More Books

Students also viewed these Accounting questions