Please help me with the first part of this excel sheet. I have the last part completed, I'm just running out of time. Thank you

Chapter 3 15e Note: Use your text and provided resources! See Problem details beginning page 113 Instructions: Complete worksheet, do not respond to questions unless instructed to do so. Everything in this worksheet relates directly to Problems and Exercises at the end of the chapter in the assigned text. Chapter 3: Applying Excel p. 113 Provided Data Data Allocation base Estimated manufacturing overhead cost (Y) Estimated total amount of the allocation base (X) Actual manufacturing overhead cost Actual total amount of the allocation base Machine-hours $300,000 75,000 machine-hours $290,000 68,000 machine-hours Enter a formula into each of the shaded cells below Computation of the predetermined overhead rate Estimated manufacturing overhead cost from Provided Data $300,000 Estimated total amount of the allocation base from Provided Data 75,000 machine-hours Predetermined overhead rate (from above E23) (worksheet calculation) per machine-hour (Y) Estimated total manufacturing overhead (cost) / (X) estimated direct machine hours Computation of underapplied or overapplied manufacturing overhead Actual manufacturing overhead cost from Provided Data $ 290,000 Manufacturing overhead cost applied to Work in Process during the year: Predetermined overhead rate (from above E23) $0.00 per machine-hour Actual total amount of the allocation base from Provided Data 68,000 machine-hours Incorrect Manufacturing overhead applied (worksheet calculation) Underapplied (overapplied) manufacturing overhead (worksheet calculation) Incorrect Incorrect Incorrect 1. No action required, but try it. 2. Provided Data Data Allocation base Estimated manufacturing overhead cost Estimated total amount of the allocation base Actual manufacturing overhead cost Actual total amount of the allocation base Machine-hours $100,000 50,000 machine-hours $90,000 40,000 machine-hours Enter a formula into each of the shaded cells below Computation of the predetermined overhead rate Estimated manufacturing overhead cost Estimated total amount of the allocation base Predetermined overhead rate $100,000 50,000 machine-hours per machine-hour Computation of underapplied or overapplied manufacturing overhead Actual manufacturing overhead cost $ Manufacturing overhead cost applied to Work in Process during the year: Predetermined overhead rate Actual total amount of the allocation base Manufacturing overhead applied Underapplied (overapplied) manufacturing overhead Incorrect 90,000 $0.00 per machine-hour 40,000 machine-hours Incorrect Incorrect Incorrect 3. No action required, but try it. 4. Provided Data Estimated manufacturing overhead cost Estimated total amount of the allocation base Actual manufacturing overhead cost Actual total amount of the allocation base $100,000 50,000 machine-hours $100,000 40,000 machine-hours Enter a formula into each of the shaded cells below Computation of the predetermined overhead rate Estimated manufacturing overhead cost Estimated total amount of the allocation base Predetermined overhead rate $100,000 50,000 machine-hours per machine-hour Incorrect Computation of underapplied or overapplied manufacturing overhead Actual manufacturing overhead cost $ Manufacturing overhead cost applied to Work in Process during the year: Predetermined overhead rate Actual total amount of the allocation base Manufacturing overhead applied Underapplied (overapplied) manufacturing overhead 100,000 $0.00 per machine-hour 40,000 machine-hours Incorrect Incorrect Incorrect The Foundational 15, p. 114 Enter a formula into each of the shaded cells below Provided Data Estimated fixed manufacturing overhead Estimated variable manufacturing overhead per Direct Labor Hour Esitmated total Direct Labor Hours to be worked Total actual manufacturing overhead costs incurred $ $ Direct materials Direct labor costs Actual Direct Labor Hours worked $ $ $ 10,000 1.00 2,000 12,500 Job P 13,000 $ 21,000 $ 1,400 Job Q 8,000 7,500 500 1. The estimated total manufacturing overhead cost is computed as follows: Formula: Y = a + bX, where Y = (a) Estimated fixed manufacturing overhead + (b) (Estimated variable manufacturing overhead per DLH)(X Esitmated total DLH to be worked) Estimated fixed manufacturing overhead from Provided Data Estimated variable manufacturing overhead: from Provided Data Estimated total manufacturing overhead cost (worksheet calculation) $ $ Incorrect The predetermined overhead rate is computed as follows: Estimated total manufacturing overhead Estimated total direct labor hours (DLHs) from Provided Data POHR - Predetermined overhead rate 2. $ Job P Job Q 1,400 - $ Incorrect Direct labor cost from Provided Data Actual direct labor hours worked from Provided Data Direct labor hourly wage rate (worksheet calculation) $ Job P 21,000 1,400 Incorrect 4. Total manufacturing cost assigned to Job P: Direct materials $ Direct labor $ Manufacturing overhead applied (worksheet calculation) Total manufacturing cost (worksheet calculation) Unit product cost for Job P: Total manufacturing cost (calculated above) Number of units in the job (see text) Unit product cost Total manufacturing cost assigned to Job Q: Direct materials Direct labor Manufacturing overhead applied (from above) Total manufacturing cost 2,000 DLHs - per DLH $ Actual direct labor hours worked from Provided Data $ Predetermined overhead rate per DLH (calculated above) Manufacturing overhead applied (worksheet calculation) 3. 10,000 2,000 500 Incorrect $ Job Q 7,500 500 Incorrect 13,000 21,000 Incorrect Incorrect $ Incorrect $ $ $ $ 8,000 7,500 15,500 Incorrect 5. No action required 6. No action required 7. No action required 8. The Schedule of Cost of Goods Manufactured Direct materials: Raw materials inventory, beginning Add: Purchases of raw materials from Provided Data and text data Total raw materials available () Deduct: Raw materials inventory, ending (see text) Raw materials used in production from Provided Data Direct labor from Provided Data Incorrect Incorrect Incorrect Incorrect Incorrect Incorrect Manufacturing overhead applied to work in process inventory Total manufacturing costs Add: Beginning work in process inventory $ $ $ $ $ Deduct: Ending work in process inventory Cost of goods manufactured 11,400 Incorrect 15,500 (15,500) Incorrect 9. No action required 10. No action required 11. The Schedule of Cost of Goods Sold Finished goods inventory, beginning Add: Cost of goods manufactured Cost of goods available for sale Deduct: Finished goods inventory, ending Unadjusted cost of goods sold Incorrect Incorrect 12. No action required 13. The amount of underapplied overhead Actual direct labor-hours from Provided Data Predetermined overhead rate (previous POHR) Manufacturing overhead applied Actual manufacturing overhead from Provided Data Deduct: Manufacturing overhead applied Underapplied overhead Incorrect Incorrect Incorrect $ Incorrect 14. No action required 15. The income statement is as follows: Sales from text Cost of goods sold see previous calculations Gross margin Selling and administrative expenses from text Net operating income (worksheet calculation) Incorrect Incorrect Incorrect Exercise 3-1, p. 115 The estimated total manufacturing overhead cost is computed as follows: Y = Fixed Mfg. Costs + ($x.xx per DLH)( DLHs) (see text data) Estimated fixed manufacturing overhead $ 94,000 Estimated variable manufacturing overhead ($2) Incorrect Estimated total manufacturing overhead cost Incorrect The predetermined overhead rate is computed as follows: Estimated total manufacturing overhead $ Estimated total direct labor hours (DLHs) Predetermined overhead rate DLHs per DLH Incorrect Exercise 3-6, p. 116 ATTENTION: Be sure to see the data in the text. 1. 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 Less indirect materials included in manufacturing overhead Direct labor (see text data) Manufacturing overhead applied to work in process inventory Total manufacturing costs Add: Beginning work in process inventory $ $ $ $ $ $ $ $ $ $ $ $ $ Deduct: Ending work in process inventory Cost of goods manufactured 2. Cost of Goods Sold Finished goods inventory, beginning Add: Cost of goods manufactured Goods available for sale Deduct: Finished goods inventory, ending Unadjusted cost of goods sold 12,000 30,000 42,000 18,000 24,000 $ $ $ $ $ 19,000 58,000 87,000 164,000 56,000 220,000 65,000 155,000 35,000 155,000 190,000 Correct 42,000 148,000 Correct Correct Correct Correct Correct Add: Underapplied overhead Adjusted cost of goods sold $ $ 4,000 152,000 Correct Exercise 3-12, p. 118 1. Actual manufacturing overhead costs Manufacturing overhead cost applied Overapplied overhead cost 2. Direct materials: Raw materials inventory, beginning Add purchases of raw materials Raw materials available for use Deduct raw materials inventory, ending Raw materials used in production Less indirect materials Direct labor Manufacturing overhead cost applied to work in process Total manufacturing costs Add: Work in process, beginning $ $ $ 473,000 485,000 12,000 Correct $ $ $ $ $ $ 20,000 400,000 420,000 30,000 390,000 375,000 $ $ $ $ $ $ $ Deduct: Work in process, ending Cost of goods manufactured 60,000 485,000 920,000 Correct 40,000 960,000 70,000 890,000 Correct Problem 3-25, p. 125 1.a. Estimated total manufacturing overhead costs (see text) $ Estimated total amount of the overhead base $ (Direct material costs) Predetermined overhead rate 800,000 Correct 500,000 Correct Predetermined= Estimated total manufacturi overhead rate Estimated total amount of th 160% Correct 1.b. Before the underapplied or overapplied overhead can be computed, we must determine the amount of direct materials used in production for the year. 2. Raw materials inventory, beginning (see text) Add, Purchases of raw materials Raw materials available () Deduct: Raw materials inventory, ending Raw materials used in production $ $ $ $ $ 20,000 510,000 530,000 80,000 450,000 Correct Actual manufacturing overhead costs: Indirect labor Property taxes Depreciation of equipment Maintenance Insurance Rent, building Total actual costs Applied manufacturing overhead costs: Underapplied overhead $ $ $ $ $ $ $ $ $ 170,000 48,000 260,000 950,000 7,000 180,000 760,000 Correct 720,000 Correct 40,000 Correct Gitano Products 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 Total manufacturing costs Add: Work in process, beginning $ $ $ $ $ $ $ $ $ $ $ $ Deduct: Work in process, ending Cost of goods manufactured 3. Unadjusted cost of goods sold: Finished goods inventory, beginning Add: Cost of goods manufactured Goods available for sale () Deduct: Finished goods inventory, ending Unadjusted cost of goods sold 20,000 510,000 530,000 80,000 $ $ $ $ $ 450,000 90,000 720,000 1,260,000 Correct 150,000 1,410,000 70,000 1,340,000 Correct 260,000 1,340,000 1,600,000 Correct 400,000 1,200,000 Correct The underapplied overhead can either be closed out to Cost of Goods Sold or allocated between Work in Process, Finished Goods, and Cost of Goods Sold based on the overhead applied during the year in the ending balance in each of these accounts. = $800,000 $500,000 direct materials co The underapplied overhead can either be closed out to Cost of Goods Sold or allocated between Work in Process, Finished Goods, and Cost of Goods Sold based on the overhead applied during the year in the ending balance in each of these accounts. 4. Direct materials Direct labor Overhead applied Total manufacturing cost () $ $ $ $ 8,500 2,700 13,600 Correct 24,800 Correct $ $ 24,000 38,400 5. The amount of overhead cost in Work in Process was: $24,000 direct materials cost 160% = $38,400 The amount of direct labor cost in Work in Process is: Total ending work in process Deduct: Direct materials Manufacturing overhead () Direct labor cost The completed schedule of costs in Work in Process was: Direct materials $ Direct labor $ Manufacturing overhead $ Work in process inventory () $ $ 70,000 $ $ 62,400 Correct 7,600 Correct 24,000 7,600 38,400 70,000 Correct Attention: Tests (and/or quizzes) in Managerial Accounting WILL NOT include the CORRECT / INCORRECT indicators. Therefore, your goal should not be to merely arrive a solution that moves the indictor from INCORRRECT to CORRECT but to know how you arrived at the correct solution. The End