The first number is 900,000

The first part says an excel schedule which looks like this

Be nice to look like this but does not have to be just want to make sure the numbers are right and I can rearrange them.

PROBLEM 314 Schedule of Cost of Goods Manufactured; Overhead Analysis L03-3, L03-4 Gitano Products operates a job-order costing system and applies overhead cost to jobs on the basis of direct materials used in production (not on the basis of raw materials purchased). Its predetermined overhead rate was based on a cost formula that estimated $900,000 manufacturing overhead for an estimated allocation base of $500,000 direct material dollars to be Page 140 used in production. The company has provided the following data for the just completed year: Purchase of raw materials $510,000 Direct labor cost $90.000 Manufacturing overhead costs: Indirect labor $ 170,000 Property taxes $48.000 Depreciation of equipment $260,000 Maintenance $95.000 Insurance $7.000 Rent, building $180,000 Beginning Ending Raw Materials $20,000 $80,000 Work in Process $ 150,000 $70.000 Finished Goods $260.000 $400,000 Using the Exeet Cost Flow Template prepare in Excel Schedules of Cost of Goods Manufactured and Cost of Goods Sold. a. Assume all raw materials are used in production as direct materials. b. Include underapplied/overapplied overhead in cost of goods sold. Additionally, prepare an abbreviated Income Statement with information provided and as calculated. Not all info is available for an IS; be creative with your own assumptions but do document this "what if" scenario, a mix of actual data and assumptions/what if to create the abbreviated IS. Raw Materials Beginning RM inventory + RM purchased = RM available for use Ending RM inventory = RM used in production -BALANCE SHEET (INVENTORY ACCOUNT) Manufacturing Costs* Work in Process + Direct materials Beginning WIP inventory + Direct labor + Total mfg. costs + Mfg. overhead applied = WIP available (processed) = Total mfg. costs Ending WIP inventory product costs Cost of goods manufactured Finished Goods Beginning FG inventory Cost of goods manufactured = FG available for sale Ending FG inventory = Cost of goods sold INCOME STATEMENT Revenue (product sales) Cost of goods sold = Gross profit Expenses = Net income -BALANCE SHEET (INVENTORY ACCOUNT) Manufacturing Costs* Work in Process Raw Materials Finished Goods INCOME STATEMENT + + + + + = * product costs