S Stanford Enterprises uses job-order costing. Overhead is applied on the basis of direct labor hours. The following information relates to the year just ended. Data: Estimated total overhead costs Estimated total direct labor hours Actual total direct labor hours Actual costs for the year: Purchase of raw (direct) materials Direct labor cost Manufacturing overhead Inventories: Raw Materials (All Direct) Work in Process Finished Goods $ 2,75,000 25,000 27,760 $ 3,75,000 $ 5,36,300 $ 3,02,750 Beginning Ending $ 15,000 $ 11,375 27,875 22,350 34,600 26,450 Use the data to answer the following. 1. Calculate and dispose of overapplied or underapplied manufacturing overhead. 2. Calculate the cost of goods manufactured and cost of goods sold. 3. Prepare an income statement for a manufacturing firm. Navigation: 1. Use the Open Excel in New Tab button to launch this question.

Stanford Enterprises uses job-order costing. Overhead is applied on the basis of direct labor hours. The following information relates to the year just ended. Actual costs for the year: Use the data to answer the following. 1. Calculate and dispose of overapplied or underapplied manufacturing overhead. 2. Calculate the cost of goods manufactured and cost of goods sold. 3. Prepare an income statement for a manufacturing firm. Navigation: 1. Use the Open Excel in New Tab button to launch this