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: $500

At the beginning of June the company had the following work-in-process inventories:

Job 21 $13,000 Job 25 $9,000

During June, the following activities took place:

1.Started jobs 26 and 27.

2.Purchased raw materials in June: $12,000

Requisitioned(or used) the following raw materials to the specific jobs:

Job 21 $2,000 Job 25 $4,000 Job 26 $1,000 Job 27 $3,000

3. Incurred June manufacturing payroll:

Direct Labor Job 21 $750 Job 25 $2,000 Job 26 $900 Job 27 $1,500

Indirect labor $700

4.Incurred additional manufacturing overhead costs for June:

Production equipment rent $1,000 Manufacturing supplies purchased and used $800 Factory utilities $500

5.Applied manufacturing overhead using a predetermined rate based on predicted annual overheadand predicted annual direct material cost as follows: Predicted Annual Overhead $35,000 Predicted Annual Direct Material cost $100,000

6.Completed jobs 25 and 27.

7.Customer for Job 25 picked up completed job and was billedthe following: Job 25 20,000

8.The company had the following period costs that they incurred:

Sales commissions $1,000 Administrative salaries $2,000

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:

3.Determine the ending Work-In-Process Inventory at the end of June and provide the number of the Jobs still in Work-in-Process at the end of June and the determine total cost of ending work in process for June.

4.Determine the Finished Goods for June and provide the number of the Jobs in Finished Goods at the end of June and determine the total cost of ending finished goods for June.

5.Determine the Cost of Goods Sold for June and provide the number of the Jobs in Cost of Goods Sold for June and determine the total cost of goods sold for June. 6.create a statement of cost of goods manufactured for June below.Use Manufacturing Overhead applied in your statement. Shed Inc. Statement of Cost of Goods Manufactured For Month ending June 30, 20XX 7.create an Income Statement for June below.The company does not close the over or underapplied overhead until the end of the year, so no adjustment is needed to Cost of Goods Sold. Shed Inc. Income Statement For Month ending June 30, 20XX 8.Determine the underapplied or overapplied manufacturing for June. 9.create a Column chart below showing 3 products that were put into the jobs in June.