Sign In FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW 4 Tables Illustrations Apps for Recommended Office Power Sparklines Filters View Text Symbols PivotChart Links Charts Apps Charts Reports F38 A C D E G H 1 Stanford Enterprises uses job-order costing direct labor hours. 2 The allocation base for overhead 4 Data for the year just ended: S Estimated total manufacturing overhead cost 6 Estimated total direct labor hours 7 Actual total direct labor hours $275,000 25,000 27,760 8 9 Actual costs for the year $375,000 $536,300 $302,750 10 Purchase of raw materials (all direct) 11 Direct labor cost 12 Manufacturing overhead costs 13 14 Inventories: Ending Beginning 15 $ Raw materials (all direct) 15,000 11,375 16 $ 27,875 $ Work in process 22,350 34,600 17 $ $ 26,450 Finished goods 18 19 Use the data to answer the following. 20 21 1. Compute applied overhead and determine the amount of underapplied or overapplied overhead: 22 Actual manufacturing overhead cost 23 Predetermined overhead rate 24 Actual direct labor hours 25 Manufacturing overhead applied 26 27 Underapplied (overapplied) manufacturing overhead 28 2. Prepare a schedule of cost of goods manufactured: Stanford Enterprises 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: Beginning work in process inventory Deduct: Ending work in process inventory Cost of goods manufactured 3. Prepare a schedule of cost of goods sold. Stanford Enterprises 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 Underapplied (overapplied) overhead Adjusted cost of goods sold