please use formulas and/or cell references for the yellow cells will be very appreciated.

please use formulas and/or cell references for the yellow cells will be very appreciated.

please use formulas and/or cell references for the yellow cells will be very appreciated.

please use formulas and/or cell references for the yellow cells will be very appreciated.

please use formulas and/or cell references for the yellow cells will be very appreciated.

please use formulas and/or cell references for the yellow cells will be very appreciated.

C D 1 Tracey Excel Name 2 Cost of Goods Manufactured and COGS Schedule 3 Enter a formula or cell reference in every yellow cell. 4 Tracey Company operates a job-order costing system and applies overhead cost to jobs on the 5 basis of direct labor hours. The company has provided the following data for the year 7 Estimated total manufacturing overhead 8 Estimated total number of direct labor hours 9 Actual total manufacturing overhead 10 Actual total number of direct labor hours $126,000 4,200 DLH $123,000 1.000 DLH 11 12 Purchases of raw materials (all direct) $133,000 13 Direct labor $80,000 14 15 Inventories: Beginning Ending 16 Raw Materials $21,000 $16,000 17 Work in Process $44,000 $40,000 18 Finished Goods $68,000 $60,000 19 20 Required: 21 1. Compute the predetermined overhead rate for the year and the amount of the underapplied or 22 or overapplied overhead for the year. 23 24 Estimated total manufacturing overhead 25 Estimated total number of direct labor hours 26 Predetermined overhead rate Try Again! Try Again! Try Again! per DLH Try Again! Try Again! Try Again! 28 Actual manufacturing overhead costs 29 Applied manufacturing overhead costs 30 Underapplied (overapplied) overhead 31 32 2. Prepare a schedule of cost of goods manufactured for the year. 33 34 Direct materials: 35 Raw materials inventory beginning Try Again! 36 Add purchases of raw materials Try Again! 37 Total raw materials available Try Again! 38 Deduct raw materials inventory, ending Try Again! 39 Raw materials used in production 40 Direct labor 41 Manufacturing overhead applied to work in process 42 Total manufacturing costs 43 Add: Work in process, beginning 44 45 Deduct: Work in process, ending 46 Cost of goods manufactured 47 48 19 3. Prepare a cost of goods sold schedule for the year, assuming that underapplied or 50 ovcrapplicd overhead is closed out to COGS. 51 52 Finished goods inventory, beginning Try Again! 53 Add: Cost of goods manufactured Try Again! 54 Goods available for sale Try Again! 55 Deduct: Finished goods inventory, ending Try Again! 56 Unadjusted Cost of goods sold Try Again! 57 Underapplied (Overapplied) overhead Try Again! 58 Adjusted Cost of goods sold Try Again! Sheet1 Try Again! Try Again! Try Again! Try Again! Try Again! Try Again! Try Again! Try Again