please, please add formula or cell reference
Idille 1 Weekly Check-in Assignment 2 Applied Overhead and Cost of Goods Manufactured and COGS Schedule 3 4 Enter a formula or cell reference in every yellow cell. 5 6 Tracey Company operates a job-order costing system and applies overhead cost to jobs on the 7 basis of direct labor hours. The company has provided the following data for the year: 8 9 Estimated total manufacturing overhead $126,000 10 Estimated total number of direct labor hours (DLH) 4,200 DLH 11 Actual total manufacturing overhead $125,000 12 Actual total number of direct labor hours (DLH) 4,000 DLH 13 14 Purchases of raw materials (all direct) $133,000 15 Direct labor $80,000 16 17 Inventories: Beginning Ending 18 Raw Materials $21,000 $16,000 19 Work in Process $44,000 $40,000 20 Finished Goods $68,000 $60,000 21 22 Required: A JE weekly Check" ASSIgen D E F F per DLH B 22 Required: 23 1. Compute the predetermined overhead rate for the year and the amount of the underapplied or 24 or overapplied overhead for the year. 25 26 Estimated total manufacturing overhead 27 Estimated total number of direct labor hours (DLH) 28 29 Predetermined overhead rate per DLH 30 31 Actual total manufacturing overhead 32 Applied total manufacturing overhead 33 Underapplied (overapplied) overhead 34 35 2. Prepare a schedule of cost of goods manufactured for the year. Use Exhibit 3-8 as your guide or 36 watch Video #3 in the Chapters 2 and 3 Module. 37 Direct materials: 38 Raw materials inventory, beginning Add: Purchases of raw materials 40 Total raw materials available 41 Deduct: Raw materials inventory, ending 42 Raw materials used in production 39 43 Direct labor Sheet1 Ready A1 XV fic Weekly Check-in Assignment A B D E 43 Direct labor 44 Applied total manufacturing overhead from cell B32 45 Total manufacturing costs 46 Add: Work in process, beginning 47 Deduct: Work in process, ending 48 Cost of goods manufactured 49 50 51 3. Prepare a cost of goods sold schedule for the year, assuming that underapplied or 52 overapplied overhead is closed out to COGS. 53 54 Finished goods inventory, beginning 55 Add: Cost of goods manufactured 56 Goods available for sale 57 Deduct: Finished goods inventory, ending 58 Unadjusted Cost of goods sold 59 Underapplied (Overapplied) overhead from cell B33 60 Adjusted Cost of goods sold $0 I did this one for you. 61 62 Please note the formula that I did for you in cell B60. If your overhead is Underapplied, then it 63 will get added to the Unadjusted COGS. If your overhead is Overapplied, then it will be in parentheses 64 in roll RSO Cince iti pestive addin it to the linducted coc will deconceit Romamher the Sheet1 Ready BI e x] 62 Please note the formula that I did for you in cell B60. If your overhead is Underapplied, then it 63 will get added to the Unadjusted COGS. If your overhead is Overapplied, then it will be in parentheses 64 in cell B59. Since it is negative, adding it to the Unadjusted COGS will decrease it. Remember, the 65 joy of Excel is getting your formulas correct so that you don't have to think about it. 66 Sheet1
