using excel please

thank you !

1 2 2 3 4 Synecdoche Products uses 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). It estimates a predetermined overhead rate based on an estimated allocation base of direct material dollars to be used in production. The company provided the following data for the year: 5 5 6 7 8 $900,000 $550,000 $550,000 $80,000 9 Estimated manufacturing overhead 10 Estimated direct materials used in produc 11 13 Purchase of raw materials 14 Direct labor cost 15 Manufacturing overhead costs: 16 Indirect labor 17 Property taxes 18 Depreciation of equipment 19 Maintenance 20 Insurance 21 Building rent $168,000 $50,000 $270,000 $102,000 $13,000 $193,000 23 24 25 Raw Materials 26 Work in Process 27 Finished Goods Beginning $26,000 $158,000 $250,000 Ending $87,000 $71,000 $400,000 20 28 29 Step 1: Compute the predetermined overhead rate for the year by filling in the green-highlighted cell. 30 31 Predetermined overhead rate 22 34 40 41 33 Step 2: Compute the over/underapplied overhead by filling in the green-highlighted cells. 35 Recall that over/underapplied overhead = Actual overhead - Applied overhead. 36 So, we need two things: 1) Actual overhead, and 2) Applied overhead. 37 First, calculate the actual overhead. 38 39 Indirect labor Property taxes Depreciation of equipment 42 Maintenance 43 Insurance 44 Building rent 45 Total actual overhead 46 47 Next, calculate the applied overhead. Recall that applied overhead = Actual Activity Base Used X POHR. 48 We already calculated the POHR in Step 1. Now, we need the actual activity base used. For this problem, 49 the activity base used is direct material dollars used in production. We therefore need the actual amount of 50 materials used in production. 51 Raw Materials 52 53 Beginning balance 54 Purchases of raw materials 55 Actual materials used in production 56 Ending Balance 57 58 Now we can calculate the applied manufacturing overhead. 59 60 Actual materials used in production 61 POHR 62 Total applied overhead 63 64 Finally, we can calculate the over/underapplied manufacturing overhead. 65 Hint: For the T-account, fill out only the appropriate side (debit or credit) for each line. 66 67 Manufacturing Overhead 68 Actual overhead Applied overhead Over/underapplied overhead 69 70 71 72 Is the overhead underapplied? Type "Yes" or "No". 73 74 Step 3: Complete the cost of Goods Manufactured Schedule by filling in the green-highlighted cells 75 76 Synecdoche Products 77 Schedule of Cost of Goods Manufactured 78 Direct materials 79 Beginning raw materials inventory 80 Add: Purchases of raw materials 81 Total raw materials available 82 Less: Ending raw materials inventory 83 Raw materials used in production 84 Direct labor 85 Manufacturing overhead applied to work in process 86 Total manufacturing costs 87 Add: Beginning Work-in-Process inventory 88 Less: Ending Work-in-Process inventory 89 Cost of goods manufactured 90 91 Step 4: Calculate the unadjusted Cost of Goods Sold by filling in the green-highlighted cells 93 94 Beginning finished goods inventory 95 Cost of goods manufactured 96 Cost of goods available for sale 97 Ending finished goods inventory 98 Unadjusted Cost of Goods Sold 99 100 101 Step 5: Calculate the Adjusted Cost of Goods Sold by filling in the green-highlighted cells 102 Hint: Whether to add or subtract depends on whether the overhead was overapplied vs. underapplied. 103 104 Unadjusted Cost of Goods Sold 105 Over/underapplied overhead 106 Adjusted Cost of Goods Sold 107 108 Do we report the unadjusted COGS or adjusted COGS on the income statement? Type "Unadjusted" or "Adjusted". 1 na 110