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Need to know the formula to enter for excel! Sampson Company uses a job order cost system with overhead applied based on direct labor hours.

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Need to know the formula to enter for excel!
Sampson Company uses a job order cost system with overhead applied based on direct labor hours. See estimated amounts below. Note the beginning balances for Finished Goods (Job 101) and Work-in-Process (Jobs 102 \& 103) for the costs accumulated to date. Also note, the beginning balances in the other balance sheet accounts. Estimated Overhead for 2018 Estimated Direct Labor Hours for 2014 24,000 During January the comapny had the following transactions: (a) Purchased raw materials on accout in the amount of: (b) Issued the following materials into production: 10,000 (c) Recorded salaries and wages as follows: Recorded salaries and wages as follows: Applied overhead to jobs based on the number of direct labor hours required Recorded the following actual manufacturing costs: (1) Recorded the following general and administrative costs: (g) Sold Job 101, which is recorded in Finished Goods: (h) Completed Job 102 but did not sell it; Job 103 is still in process at year-end. 1 Compute the predetermined overhead rate. Predetermined overhead rate 2 Compute how much overhead would be applied to jobs during the period: Overhead applied Compute the total cost of Jobs 102 and 103 at the end of the period. You will enter your calculation 3 in the 'Ledger Accounts' tab of this workbook. 1 Compute the predetermined overhead rate. Predetermined overhead rate 2 Compute how much overhead would be applied to jobs during the period: Overhead applied Compute the total cost of Jobs 102 and 103 at the end of the period. You will enter your calculation 3 in the 'Ledger Accounts' tab of this workbook. Where will the cost of each of these jobs appear on the Balance sheet? Post the journal entries to the 'T' Accounts in the 'Ledger Accounts' tab. Calculate the ending 4 balances in all of the accounts. 5 Calculate the amount of over- or underapplied overhead in the 'Ledger Accounts' tab. Post the journal entry in the T accounts to dispose of the overhead balance in the 'Ledger Accounts' 6 tab. 7 Prepare a statement of cost of goods manufactured report in the 'Reports' tab. 8 Prepare an income statement in the 'Reports' tab. 9 Prepare a basic balance sheet in the 'Reports' tab. Selling, General, and Administrattve Expenses Sampson Company Cost of Goods Manufactured Report For the Month of January Beginning Raw Materials Inventory Plus: Raw Material Purchases Less: Indirect Material Used Less: Ending Raw Materials Inventory Direct Materials Used in Production Direct Labor Manufacturing Overhead Total Current Manufacturing Costs Plus: Beginning Work in Process Inventory Total Work in Process Less: Ending Work in Process Inventory Cost of Goods Manufactured* 8 Sampson Company Income Statement For the Month of January Sales Revenue Less: Cost of Goods Sold Beginning Finished Goods Inventory Plus: Cost of Goods Manulactured* (see schedule above) Cost of Goods Available for Sale Less: Ending Finished Goods Inventory Unadiusted Cost of Goods Sold Under-1Overappled Overhead Adjunted Cost ol Goods Sold Gross Profit Less: Operating (Period) Expenses Net income from Operations 9 Sampson Company Balance Shent As of January 31 st Assets Llabillties Cash and Other Assete Payables and Other Renv Matarials inventory Work in Process inventory Firished Goods Inventory Liabilities. Total Assets

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