1

Compute the predetermined overhead allocation rate for 2018. Use the blue shaded areas for inputs.

2

Use Excel to journalize the transactions in the general journal. The account titles are available when you click the down-arrow.

Use the Increase Indent button on the Home tab to indent items.

3

Post the transactions to T-accounts. The balances in the T-accounts are automatically updated.

Enter the beginning balances for the inventories. Assume the rest of the accounts have beginning balances of zero.

4

Adjust the manufacturing overhead account.

a.

Prepare the journal entry.

b.

Post to T-accounts.

5

List the ending balances for Raw Materials Inventory, Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold.

Job Order Costing Using Excel to calculate a predetermined overhead allocation rate, journalize and post manufacturing journal entries, and adjust for overallocated or underallocated overhead Chedar River Trikes manufactures three-wheeled bikes for adults. The company allocates manufacturing overhead based on machine hours. Chedar River expects to ncur $250,000 of manufacturing overhead costs, and to use 10,000 machine hours during 2018. Chedar River reported the following inventory balances at May 31, 2018 Raw Materials Inventory Work-in-Process Inventory Finished Goods Inventory 25000 18000 43000 During June, 2018, Cedar River actually used 1,100 machine hours. Use the blue shaded areas on the ENTER-ANSWERS tabs for inputs