u G H 4 1 2. Stanford Enterprises uses job-order costing. 3 Overhead is applied on the basis of direct labor hours. 5 The following information relates to the year just ended. 6 Data: 7 Estimated total overhead costs $275,000 8 Estimated total direct labor hours 25,000 9 Actual total direct labor hours 27,760 10 11 Actual costs for the year: 12 Purchase of raw (direct) materials $375,000 13 Direct labor cost $536,300 1.4 Manufacturing overhead $302,750 15 16 Inventories: Beginning 17 Raw (Direct) Materials $15,000 18 Work in Process 27,875 19 Finished Goods 34,600 20 Ending $11,375 22,350 26,450 Required: Use the data to fill in the following information. (Use cells B6 to 018 from the given information to complete this question. If overhead is overapplied, your answer should be displayed as a negative value. All answers should be input and displayed as positive values.) 1. Overhead: Actual overhead cost Predetermined overhead rate Actual direct labor hours Total overhead applied (Over) or under applied overhead 2. Prepare a schedule of cost of goods manufactured: 4 5 (Use cells 86 to C18 from the given information to complete this question. All answers should be input and displayed as positive values.) 2. Prepare a schedule of cost of goods manufactured: (Use cells B6 to C18 from the given information to complete this question. All answers should be input and displayed as positive values.) Stanford Enterprises 3 Schedule of Cost of Goods Manufactured Direct materials: 0 Raw materials inventory, beginning -1 Add: Purchases of raw materials 12 Total raw materials available 13 Deduct: Raw materials inventory, ending Raw materials used in production 45 Direct labor 46 Applied manufacturing overhead 47 Total manufacturing costs 48 Add: Beginning work in process inventory 49 Total cost of work in process 50 Deduct: Ending work in process inventory SI Cost of goods manufactured S2 14 + Cost of goods manufactured 3. Prepare a schedue of cost of goods sold. (Use cells B6 to C18 from the given information to complete this question. If overhead is overapplied, your answer should be displayed as a negative value. All answers should be input and displayed as positive values.) Stanford Enterprises Schedule of Cost of Goods Sold Finished goods inventory, beginning Add: Cost of goods manufactured Cost of goods available for sale 2 Deduct: Finished goods inventory, ending 3 Unadjusted cost of goods sold Underapplied (overapplied) overhead 55 Adjusted cost of goods sold 56 57 Students: The scratchpad area is for you to do any additional work you need to solve this question or can be used to show your work Nothing in this area will be graded, but it will be submitted with your assignment. 3