Question

Please give answers in the yellow boxes as an excel function and using cell references when needed.

B F G H D i Stanford Enterprises uses job-order costing. 2 The allocation base for overhead is direct labor hours. 4 Data for the year just ended: 5 Estimated total manufacturing overhead cost 6 Estimated total direct labor hours 7 Actual total direct labor hours $ 275,000 25,000 27,760 9 Actual costs for the year: 10 Purchase of raw materials (all direct) 11 Direct labor cost 12 Manufacturing overhead costs $375,000 $536,300 $302,750 14 Inventories: Raw materials (all direct) 16 Work in process Finished goods Beginning $ 15,000 $ 27,875 34,600 $ $ $ Ending 11,375 22,350 26,450 $ 19 Use the data to answer the following. 21 1. Compute applied overhead and determine the amount of underapplied or overapplied overhead: Actual manufacturing overhead cost 23 Predetermined overhead rate 24 Actual direct labor hours Actual direct labor hours Manufacturing overhead applied 27 Underapplied (overapplied) manufacturing overhead 29 2. Prepare a schedule of cost of goods manufactured: Stanford Enterprises Schedule of Cost of Goods Manufactured 33 Direct materials: 34 Raw materials inventory, beginning 35 Add: Purchases of raw materials Total raw materials available 37 Deduct: Raw materials inventory, ending 38 Raw materials used in production 39 Direct labor 40 Manufacturing overhead applied to work in process 41 Total manufacturing costs 42 Add: Beginning work in process inventory 44 Deduct: Ending work in process inventory 45 Cost of goods manufactured Stanford Enterprises Schedule of Cost of Goods Sold 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

Answer 1

Actual Manufacturing overhead cost		302750
Predetermined overhead rate	11
Actual Direct Labour Hour	27760
Manufacturing Overhead applied		305360
Underapplied (Overapplied) Manufacturing Overhead		(2610.00)
Schedule of Cost of Goods Manufactured
Direct Material
Raw Material Inventory Beginning	15000
Add: Purchases of Raw Material	375000
Total Raw Material Available	390000
Deduct: Raw Material Inventory ending	11375
Raw Material used in Production		378625
Direct Labour		536300
Manufacturing overhead applied to work in progress		305360
Total Manufacturing costs		1220285
Add: Beginning work in process inventory		27875
Deduct: Ending work in process inventory		22350
Cost of Goods Manufactured		1225810
Statement of cost of goods sold
Finished goods inventory, beginning		34600
Add: cost of goods manufactured		1225810
cost of goods available for sale		1260410
Deduct: Finished goods inventory ending		26450
unadjusted cost of goods sold		1233960
Underapplied (Overapplied) Manufacturing Overhead		(2610.00)
Adjusted cost of goods sold		1231350.00