Stanford Enterprises has provided its manufacturing estimated and actual data for the year end. The Controller has asked you to provide the follwing using formulas within Excel 1. Calculate the predetermined overhead rate and the amount of over or under applied manufacturing overhead 2. Schedule of cost of goods manufactured 3. Schedule of cost of goods sold Use the information included in the Excel Simulation and the Excel functions described below to complete the task. . Cell Reference: Allows you to refer to data from another cell in the worksheet. From the Excel Simulation below, if in a blank cell *=5* was entered the formula would output the result from cell E5, or $275,000 in this example. Basic Math functions: Allows you to use the basic math symbols to perform mathematical functions. You can use the following keys. (plus sign to add).- (minus sign to subtract), "fasterisk sign to multiply), and / (forward slash to divide). From the Excel Simulation below. it in a blank cellE6+E7" was entered the formula would add the values from those cells and output the result, or 52.760 in this example. If using the other math symbols the result would output an appropriate answer for its function SUM function: Allows you to refer to multiple cells and adds all the values. You can add individual coll references or ranges to utilize this function. From the Excel Simulation below, if in a blank cell -SUME10 E11E12) was entered the formula would output the result of adding those three separate cells or 1.214.050 in this example. Similarly, if in a blank cell SUME10 E12)" was entered the formula would output the same result of adding those cells, except they are expressed as a range in the formula, and the result would be 1214050 in this example FILE Cost of Goods Manucured and cost of Goods Solde PAGE LAYOUT FORMULAS DATA VW View HOME INSERT C AA M 16 TV- Al Number Conditional Format Cell Forma Table Styles Editing CH A1 Stanford Enterprises uses job order costine Saved 90 Calibri % Paste BIU- Alignment Number Conditional Format as Cell Formatting Table Styles Styles Cells Clipboard Editing Font Al fc Stanford Enterprises uses job-order costing G H B D E F 1 Stanford Enterprises uses job-order costing, 2 The allocation base for overhead is direct labor hours. 3 4 Data for the year just ended: 5 Estimated total manufacturing overhead cost $ 275,000 6 Estimated total direct labor hours 25,000 7 Actual total direct labor hours 27,760 8 9 Actual costs for the year: 10 Purchase of raw materials (all direct) $375,000 11 Direct labor cost $536,300 12 Manufacturing overhead costs $302.750 13 14 Inventories: Beginning Ending 15 Raw materials (all direct) 15,000 $ 11,375 16 Work in process $ 27,875 $ 22,350 17 Finished goods $ 34,600 $ 26,450 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 Predetermined overhead rate 24 Actual direct labor hours Sheet1 23 READY Attempt(s) 100% Show Me 0 Seved Calibri 96 M Paste BIU BB. A . Alignment Number Conditional Format as Cell Formatting Table Styles Font Styles Cells Editing Clipboard Al