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Please give the formulas not the answer Stanford Enterprises has provided its manufacturing estimated and actual data for the year end. The Controller has asked
Please give the formulas not the answer
Stanford Enterprises has provided its manufacturing estimated and actual data for the year end. The Controller has asked you to compute the predetermined overhead rate, the schedule of cost of goods manufactured, and the schedule of cost of goods sold. Use the information included in the Excel Simulation and the Excel functions described below to complete the task . Cell Reference: Allows you to refer to data from another cell in the worksheet. From the Excel Simulation below, if in a blank cell, "-E5" was entered, the formula would output the result from cell E5, or $275,000 in this example. Basic Math functions: Allows you to use the basic math symbols to perform mathematical functions. You can use the following keys: plus sign to add).-(minus sign to subtract). (asterisk sign to multiply). and/(forward slash to divide). From the Excel Simulation below, if in a blank cell -E6+E7 was entered, the formula would add the values from those cells and output the result, or 52,760 in this example. If using the other math symbols the result would output an appropriate answer for its function. ne resus sigvalnsyou Centrresult SUM function: Allows you to refer to multiple cells and adds all the values. You can add individual cell references or ranges to utilize this function. From the Excel Simulation below, if in a blank cell "SUM(E10,E11,E12)" was entered, the formula would output the result of adding those three separate cells, or 1,214,050 in this example. Similarly, if in a blank cell -SUM(E10:E12)" was entered, the formula would output the same result of adding those cells, except they are expressed as a range in the formula, and the result would be 1,214,050 in this example PasteBIU2 A-Alignment Number Lonaitional Format as CeilCells Editing Clipboard A1 Formatting TableStyles Font Styles VX fStanford Enterprises uses job-order costing 1Stanford Enterpises uses job-order costing 2 The allocation base for overhead is direct labor hours 4 Data for the year just ended 5 Estimated total manufacturing overhead cost 6 Estimated total direct labor hours 7 Actual total direct labor hours 275,000 25,000 27,760 Actual costs for the year 10Purchase of raw materials (all direct) 11Direct labor cost 12 Manufacturing overhead costs 13 14 Inventories 15 Raw materials (all direct) 16 Work in process 17 Finished goods 18 19 Use the data to answer the following 20 21 1. Compute applied overhead and determine the amount of underapplied or overapplied overhead 22 Actual manufacturing overhead cost 23 Predetermined overhead rate 24Actual direct labor hours $375,000 $536,300 302,750 Beginnin Endin 15,000 11,375 $27,875$ 22,350 34,600 26,450 Sheet1 + A1 VX fStanford Enterprises uses job-order costing 21 1. Compute applied overhead and determine the amount of underapplied or overapplied overhead 22 Actual manufacturing overhead cost 23 Predetermined overhead rate 24 Actual direct labor hours 25Manufacturing overhead applied 27 Underapplied (overapplied) manufacturing overhead 28 29 2. Prepare a schedule of cost of goods manufactured 30 31 Stanford Enterprises Schedule of Cost of Goods Manufactured 33 Direct materials 34 Raw materials inventory, beginning 35 Add: Purchases of raw materials 36 Total raw materials available 37 Deduct: Raw materials inventory, ending 38 Raw materials used in production 39 Direct labor 40 Manufacturing overhead applied to work in process 41 Total manufacturing costs 42 Add: Beginning work in process inventory 43 44 Deduct: Ending work in process inventory ...Sheeti Formatting Table Styles Styles Clipboard r Font A1 ,C Stanford Enterprises uses job-order costing 41 Total manufacturing costs 42 Add: Beginning work in process inventory 43 44 Deduct: Ending work in process inventory 45 Cost of goods manufactured 46 47 3. Prepare a schedule of cost of goods sold 48 49 50 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 59 60 61 62 Stanford Enterprises Schedule of Cost of Goods Sold Sheet1Step by Step Solution
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