Applying Integrated Excel: Manufacturing cost flows

The T$-$accounts below summarize a manufacturer's production activity for the year:

Required:

Compute the following:

Direct materials used

Indirect materials used

Direct labor used

Indirect labor used

Cost of goods manufactured

Cost of goods sold $($before closing over$-$or underapplied overhead$)$

Actual overhead incurred

Overhead applied

The amount of over$-$or underapplied overhead

Indicate whether overhead is over$-$ or underapplied.

Cost of goods sold $($after closing over$-$or underapplied overhead$)$

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The following T$-$accounts of a manufacturer summarize its production activity for the year. Compute the ending

balance in each account, then compute the amount for each of the manufacturing cost flows.

$20$ Required: Compute the following amounts.

$22$ Direct materials used

$23$ Indirect materials used

$24$ Direct labor used

$25$ Indirect labor used

$26$ Cost of goods manufactured

$27$ Cost of goods sold $($before closing over$-$or underapplied overhead$)$

$28$ Actual overhead incurred

$29$ Overhead applied

$30$ The amount of over$-$or underapplied overhead

$31$ Indicate whether overhead is over$-$ or underapplied.

$32$ Cost of goods sold $($after closing over$-$or underapplied overhead$)$

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