ACCTG $231$ Spring $2025$

EXCEL PROBLEM $1$

Due Wednesday, January $29$th

$,$ at $11$:$59$ pm

The purpose of the excel problems is for students to use an excel spreadsheet to solve a short

accounting application related to material covered in class.

Information for the Xuedou Company is given below and is also entered into the accompanying

spreadsheet that you will use to complete this assignment.

$$ NOTE: one of the variables, estimated direct labor hours, will include the last $5$ digits of your

WSU ID number in order to provide a unique solution for each student.

$$ One half of the points for this problem are for correct accounting $($i$.$e$.$ correctly computed

amounts$)$ and one half are for a working spreadsheet that will correctly recompute amounts

when the grader changes one of the variables in column B$.$

$$ Therefore it is important that everything entered into the gray highlighted boxes for questions

$1-5$ are based on formulas or cell references, rather than hard coding numbers directly.

Information

Xuedou Company applies manufacturing overhead to jobs using direct labor hours as its activity base. As

of the beginning of the period, Xuedou estimated total fixed manufacturing overhead for the period to

be $$368,000,$ variable manufacturing overhead to be $$2$ per direct labor hour and total direct labor

hours to be $($the sum of $215,000+00215).$

As of the end of the period, Xuedou determined that actual manufacturing overhead incurred was

$$900,000$ and actual direct labor hours worked were $250,000.$

Finally, the period$$s unadjusted cost of goods $($i$.$e$.$ cost of goods sold prior to adjusting for over$-$ or

under$-$applied overhead$)$ was $$4,700,000.$

REQUIRED

Using the spreadsheet provided, input formulas in the $($highlighted$)$ cells to compute the amounts

indicated. Before answering questions, enter the last $5$ digits of your WSU student ID into cell B$1$ and

$($$$215,000$ plus the last $5$ digits of your WSU ID$)$ into cell B$4.$

$1.(2$ points$)$ Compute total estimated manufacturing overhead.

$2.(2$ points$)$ Compute the predetermined overhead rate used to apply MOH to jobs.

$3.(2$ points$)$ Compute the total amount of overhead applied to jobs during the period.

$4.(2$ points$)$ Compute over$-$ or under$-$applied MOH, indicating whether overhead is over or

under applied as directed on the spreadsheet.

$5.(2$ points$)$ Compute the new balance in cost of goods sold after adjusting for over$-$ or

under$-$applied overhead.

$6.(5$ points$)$ Spreadsheet correctly recomputes answers when a variable in column B is

changed.

Insert the appropriate debits and credits in the boxes indicated by linking to amounts on the Over $($under$)$ applied MOH worksheet

$1$ Record actual MOH incurred:

$2$ Record the entry to APPLY MOH to jobs

WIP

If MOH in part $1$ was OVER applied, complete Question $3,$ if MOH in Part $1$ was UNDER applied, complete Question $4.$ DO NOT COMPLETE BOTH QUESTIONS $3$ AND $4.$

$3$ Prepare the entry to close the amount of OVER applied MOH to COGS

$\{$:$["$ MOH $",,,,],[,"$ COGS $",,,]$:$\}$

$4$ Prepare the entry to close the amount of UNDER applied MOH to COGS

COGS Insert the appropriate debits and credits in the boxes indicated by linking to amounts on the Over $($under$)$ applied MOH worksheet

$1$ Record actual MOH incurred:

$2$ Record the entry to APPLY MOH to jobs WIP

If MOH in part $1$ was OVER applied, complete Question $3,$ if MOH in Part $1$ was UNDER applied, complete Question $4.$ DO NOT COMPLETE BOTH QUESTIONS $3$ AND $4.$

$3$ Prepare the entry to close the amount of OVER applied MOH to COGS

$\backslash [$

$\backslash$begin$\{$array$\}\{|$l$|$l$|$l$|$l$|$l$|\}$

$\backslash$hline $\backslash$text $\{$ MOH $\}$ & & & & $\backslash \backslash$

& $\backslash$text $\{$ COGS $\}$ & & & $\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$array$\}$

$\backslash ]$

$4$ Prepare the entry to close the amount of UNDER applied MOH to COGS

COGS