2 Excel formulas must be used. Please be sure to submit your file as an Excel file. Any submissions in numbers format will receive a 0. 3 MFG 5 Student Name => Section Number => 6 7 8 9 Data Section: Depreciation-equipment $45,000 10 Direct labor 642,000 11 Direct materials inventory, 1/1 91,500 12 Direct materials inventory, 12/31 93,000 13 Factory rent 76,410 14 Finished goods, 1/1 132,000 15 Finished goods, 12/31 172,500 16 17 18 19 Indirect labor Indirect materials Purchases of direct materials Work in process, 1/1 37,500 26,250 645,180 30,300 20 Work in process, 12/31 28,665 21 22 Answer Section: Jackson Manufacturing Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31 Work in process, 1/1 Direct materials 31 Direct materials inventory, 1/1 Add: 33 34 Purchases of Materials Cost of direct materials available Less: Direct Material, 12/31 91,500 FORMULA1 $0 FORMULA2 30,300 38 Cost of direct materials used Direct labor FORMULA3 642,000 39 Manufacturing overhead: 40 Factory rent 41 Depreciation Equipment 42 Indirect Labor $76,410 FORMULA4 FORMULAS 43 Indirect Material FORMULA6 0 44 45 Total manufacturing costs incurred FORMULAT 46 47 Total manufacturing costs $0 48 Less: Work in Process, 12/31 FORMULAB 49 50 51 52 53 54 55 Cost of goods manufactured Finished Goods, 1/1 Cost of goods available for sale Less: Cost of Goods Sold Finished goods, 12/31 FORMULAS FORMULA10 FORMULA11 172,500 FORMULA12 58 59 60