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i need the formulas inserted into excel and what values you used to compute it 1. Calculate and dispose of overapplied or underapplied manufacturing overhead.
i need the formulas inserted into excel and what values you used to compute it
1. Calculate and dispose of overapplied or underapplied manufacturing overhead. 2 Calculate the cost of goods manufactured and cost of goods sold. 3. Prepare an income statement for a manufacturing firm. HS Cost of Goods Manufactured and Cost of Goods Sold - Excel FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Calibri X 20 11 Paste B1 UM EL A A % A Alignment Number Conditional Format as Cell Formatting Table Styles 18 Styles Cells Ed Gipboard Font F22 > G B D E 1 Stanford Enterprises uses job-order costing. 2 Overhead is applied on the basis of direct labor hours. The following information relates to the year just ended. 4 Data: 5 Estimated total overhead costs $ 275,000 6 Estimated total direct labor hours 25,000 7 Actual total direct labor hours 27,760 8 9 Actual costs for the year: 10 Purchase of raw (direct) materials 11 Direct labor cost 12 Manufacturing overhead $ $ $ 375,000 536,300 302,750 13 Ending 11,375 22,350 26,450 14 Inventories: Beginning 15 Raw Materials (All Direct) $ 15,000 $ 16 Work in Process 27,875 17 Finished Goods 34,600 18 19 Use the data to answer the following. 20 21 1. Overhead: 22 Actual overhead cost >A - Alignment Number Conditional Format as a Formatting Table Style Font Styles Clipboard F22 V 3 X 8 D E 20 33 21 1. Overhead: 22 Actual overhead cost 23 Predetermined overhead rate 24 Actual direct labor hours 25 Total overhead applied 26 27 (Over) or under applied overhead 28 29 2. Prepare a schedule of cost of goods manufactured: 30 Stanford Enterprises 31 Cost of Goods Manufactured Report 32 Direct materials: Beginning raw materials inventory 34 Plus: Raw materials purchased 35 Less: Ending raw materials inventory 36 Raw materials used in production 37 Direct labor 38 Manufacturing overhead applied 39 Total current manufacturing costs 40 Plus: Beginning work in process inventory 41 Less: Ending work in process inventory 42 Cost of goods manufactured 43 Sheet1 READY Attempt(s) 3/3 Formatting Table Styles Styles pboard Font =22 X fx G 2 $ 1,500,00 B D E Plus: Beginning work in process inventory Less: Ending work in process inventory Cost of goods manufactured 3 43. Prepare an income statement. Stanford Enterprises 6 Income Statement 7 Sales revenue -8 Less: Cost of Goods Sold 19 Finished goods inventory, beginning Plus: Cost of goods manufactured 51 Less: Ending finished goods inventory 52 Unadjusted cost of goods sold 53 Underapplied (overapplied) overhead 54 Adjusted cost of goods sold Gross Profit 56 Less: Selling, general, and administrative expenses (10% of Sales) 57 Net Operating Income 58 59 60 61 50 55 Sheet1 READY Attempt(s) E ED 3/3 Step by Step Solution
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