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please ONLY use the spreadsheet for typing the answers with use of formula bar Part 1: Information to use in completing is below and the

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please ONLY use the spreadsheet for typing the answers with use of formula bar

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Part 1: Information to use in completing is below and the requirements follow where you will answer the questions Sheds, Inc. designs and builds sheds and outbuildings for individual customers. The company uses a job cost system and treats each customer's order as a separate job. At the beginning of June the company had the following raw material inventory: At the beginning of June the company had the following work-in-process inventories: Job 21 $11,000 Job 25 $8,000 During June, the following activities took place: 1. Started jobs 26 and 27. 2. Purchased raw materials in June: $10,000 Requisitioned(or used) the following raw materials to the specific jobs: Job 21 $2,000 Job 25 $3,000 Job 26 $1,000 Job 27 $1,750 3. Incurred June manufacturing payroll: Direct Labor Job 21 $700 Job 25 $1,500 Job 26 $900 Job 27 $1,500 Indirect labor $400 4. Incurred additional manufacturing overhead costs for June: Production equipment rent Manufacturing supplies purchased and used Factory utilities $900 $700 $400 5. Applied manufacturing overhead using a predetermined rate based on predicted annual overhead and predicted annual direct material cost as follows: Predicted Annual Overhead $28,800 Predicted Annual Direct Material cost $96,000 6. Completed jobs 25 and 27. 7. Customer for Job 25 picked up completed job and was billed the following: Job 25 16,000 8. The company had the following monthly period costs that they incurred: Sales commissions $500 Administrative salaries $1,600 Required: You need to use cell references to provide answers and calculations. 1. Develop the predetermined overhead rate. 2. Complete the job cost sheets provided below for the month of June: Job 21 Job 25 Job 26 Beginning Balance Current costs: Direct materials Direct Labor Applied overhead Total 3. Determine the ending Work-In-Process Inventory at the end of June and provide the Job number of th 4. Determine the ending Finished Goods for June and provide the Job number(s) of the job(s) in Finish 5. Determine the Cost of Goods Sold for June and provide the Job number of the Job(s) in Cost of Good 6. Prepare a statement of cost of goods manufactured for June below. Use Manufacturing Overhead ap Shed Inc. Statement of Cost of Goods Manufactured For Month ending June 30, 20XX 7. Prepare an Income Statement for June below. The company does not close the over or underapplied Shed Inc. Income Statement For Month ending June 30, 20XX 8. Determine the underapplied or overapplied manufacturing for June. 9. Develop a Column chart using the Excel Chart feature below showing the three product costs that wer e you will answer the questions. as a separate job. $600 s inventories: on predicted annual overhead and calculations. Job 27 nd provide the Job number of the job(s) still in Work-in-Process at the end of June and the determine total cost of ending work umber(s) of the job(s) in Finished Goods at the end of June and determine the total cost of ending finished goods for June. er of the Job(s) in Cost of Goods Sold for June and determine the total cost of goods sold for June. se Manufacturing Overhead applied in your statement. Manufactured close the over or underapplied overhead until the end of the year, so no adjustment is needed to Cost of Goods Sold. he three product costs that were put into the jobs in June. ine total cost of ending work in process for June. g finished goods for June. Cost of Goods Sold.

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