Please answer in FORMULA FORMAT

1. Compute a predetermined overhead rate. 2. Prepare schedules of cost of goods manufactured and cost of goods sold ? - 5 X DATA Sign in Paste Cells Editing > v G H 5. Cost of Goods Manufactured and Cost of Goods Sold - Excel FILE HOME INSERT PAGE LAYOUT FORMULAS REVIEW VIEW Calibri -1 11 AA %6 BIU- - A Alignment Number Conditional Format as Cell Formatting Table Styles Clipboard Font Styles AI fo Stanford Enterprises uses job-order costing. B C D E F 1 Stanford Enterprises uses job-order costing 2 The allocation base for overhead is direct labor hours. 3 4 Data for the year just ended: 5 Estimated total manufacturing overhead cost $ 275,000 6 Estimated total direct labor hours 25,000 7 Actual total direct labor hours 27.760 8 9 Actual costs for the year. 10 Purchase of raw materials (all direct) $375,000 11 Direct labor cost $536,300 12 Manufacturing overhead costs $302.750 13 14 Inventories: Beginning Ending 15 Raw materials (all direct) $ 15.000 $ 11,375 16 Work in process $ 27.875 $ 22,350 17 Finished goods $ 34,600 $ 26450 v fa Stanford Enterprises uses job-order costing. 21 1. Compute applied overhead and determine the amount of underapplied or overapplied overhead: 22 Actual manufacturing overhead cost 302,750 23 Predetermined overhead rate S11.00 24 Actual direct labor hours 27.760 25 Manufacturing overhead applied 305,360 26 27 Underapplied (overapplied) manufacturing overhead $ 12.610) 28 29 2. Prepare a schedule of cost of goods manufactured: 30 31 Stanford Enterprises 32 Schedule of Cost of Goods Manufactured 33 Direct materials: 34 Raw materials inventory, beginning $ 15.000 35 Add: Purchases of raw materials 375.000 36 Total raw materials available $ 390,000 37 Deduct: Raw materials inventory, ending 11,375 38 Raw materials used in production $ 378,625 39 Direct labor 536,300 40 Manufacturing overhead applied to work in process 305, 360 41 Total manufacturing costs $ 1.220,285 42 Add: Beginning work in process inventory 27,875 Sheet1 READY Attempt(s) 100% Show Me Hint w Al fo Stanford Enterprises uses job-order costing. D E G H . B 39 Direct labor 40 Manufacturing overhead applied to work in process 41 Total manufacturing costs 42 Add: Beginning work in process inventory 43 Total cost of work in process 44 Deduct: Ending work in process inventory 45 Cost of goods manufactured F 536,300 305,360 $ 1.220,285 27,875 22,350 Sok 46 ent ences 47 3. Prepare a schedule of cost of goods sold. 48 49 Stanford Enterprises 50 Schedule of Cost of Goods Sold 51 52 Finished goods inventory, beginning 53 Add: Cost of goods manufactured 54 Cost of goods available for sale 55 Deduct: Finished goods inventory, ending 56 Unadjusted cost of goods sold 57 Underapplied (overapplied) overhead 58 Adjusted cost of goods sold 59 60 61 62 Sheet1 SE READY Attempt(s) + 100% Show Me