Instructions data Transactions MOH Rate Solution Jo Comprehensive Project 1 v2 Using Excel Boyd Corporation is a manufacturer that uses job-order costing. On January 1, 2004, the company's inventory balances were as follows Raw Mak Work-in-F Finished $63,000 $41,000 $58,000 The company applies overhead cost to jobs on the basis of direct labor-hours. For the cent year, 2024, the company's predetermined overhead rate per direct labor-hour was based on a cost formula that estimated $806.000 of total manufacturing overhead for an estimated activity level of 62,000 direct labor-hours Requirements: Compute the predetermined overhead allocation rate for fiscal year 2024. Use the blue shaded areas for inputs 2Use Excel to journalize the transactions listed in the Transactions tab for the current year, 2024 Enter the beginning balances for the inventories in the T-accounts. Assume the rest of the accounts have beginning balances of zero. Post the joumal entries to T- accounts. T-account balances will automatically calculate except for Manufacturing Overhead. You will need to calculate the appropriate balance in that account 4. Adjust the manufacturing overhead account. Prepare the joumal entry Post to T-accounts 5. Complete the Schedule of Cost of Goods Manufactured for 2024. 6. Complete the Cost of Goods Sold schedule for 2024 7. Prepare income statements in good form for Boyd for 2024. The company sold 500 units in 2024. Use the information given to calculate the following for 2024 Use the information provided, the high low method and the contribution margin approach to prepare a contribution format income statement Use the contribution margin approach to compute the company's annual breakeven Use the contribution margin ratio approach to compute the breakeven point in sales Use the contribution margin approach to compute the annual sales level in units) required to eam a larget operating income of $655.000 12 Use the contribution margin approach to compute the annual increase in n operating income if sales increase to 501 units. 13 Use the contribution margin approach to compute the change in net operating income if sales fall by 90 units 14 Use the contribution margin approach to compute the change in net operating income the selling price per unit increases by $20 per unit and the sales volume decreases by 50 units 15 Use the contribution margin approach to compute the change in net operating income if the sales increase by 5% and advertising spending is increased by $5,000 16 Use the contribution margin approach to calculate margin of safety in dollars, as a percent and in units. Use the contribution margin approach to calculate operating leverage. What is the 17 estimated percent increase in net income if sales increase 10%? New Operating Income? Saving & Submitting Comprehensive Project Assignments 1. Save Sie a. You may want to create folder on desktop, and label COMPLETED PROJECTS b. Name your files: CPnumberversion number FindNameLastName (eg, CP Robyndary) 2. Upload and submit your file to be graded a. Click on "Assessments" located on the navigation bar at the top of the page to open the dropdown menu b. Click on "Assignments. c. Select the assignment folder d. Upload your file(s) e. Double check you uploaded the right fles f. Submit them