Question

please WRITE THE FORMULA NEXT TO the answers, dont answer my question without the formula

( I did some of this so just do the ones i didnt do in yellow)

PLEASE please write the formulas. thanks

1. Calculate and dispose of overapplied or underapplied manufacturing overhead. 2. calculate the cost of goods manufactured and cost of goods sold, 3. Prepare an income statement for a manufacturing firm, Cost of Goods Manufactured and Cost of Goods Sold - Excel TAYOUT MULASI DATA REVIEW VIEW HOME INSERT Sign In Alignment Number Conditional Formatos Cell matting Sivec Cells Editing El pboard Stvies f Stanford Enterprises uses job-order costing. TH 1. Stanford Enterprises uses job order costing. 2 Overhead is applied on the basis of direct labor hours. 3. The following information relates to the year just ended. A Data: Estimated total overhead costs 75,000 Estimated total direct labor hours 25,000 Actual total direct labor hours 89 Actual costs for the year: 10. Purchase of raw (direct) mater Direct labor cost Manufactoring overne

Answer 1

1. Compute applied overhead and determine the amount of underapplied or overapplied overheads
	Actual manufacturing overhead cost						302,750
	Predetermined overhead rate					$               11.00
	Actual direct labor hours					27,760
	Manufacturing overheads applied						$   305,360.00
Under applied (overapplied) manufacturing overhead							-2,610
2. Prepare a schedule of cost of goods manufactured
		Stanford enterprises
		Schedule of cost of Goods Manufactured
Direct materials
	Raw materials inventory, beginning						15,000
	Add; Purchses of raw materials						375,000
	Total raw materials available					390,000
	Deduct; Raw materials inventory, ending					-11,375
	Raw materials used in production						378,625
Direct labor						536,300
Manufacturing overhead applied to work in process						$  305,360.00
Total manufacturing costs							841,660
Add: Beginning work in process inventory							27,875
							869,535
Deduct; Ending work in process inventory							-22,350
Cost of goods manufactured							847,185
3. Prepare a Income Statement
		Stanford Enterprises
		Income Statement
Sales Revenue					$  1,500,000.00
Less: Cost of good sold
Finished goods inventory, beginning				34,600
Add: Cost of goods manufactured			847,185
Cost of goods available for sale			881,785
Deduct: Finished goods inventory, ending			-26,450
Unadjusted cost of goods sold				855,335
Underapplied (overapplied) overhead				-2,610
Adjusted cost of goods sold					852,725
Gross Profit					647,275
Less: Selling and Administration(10% x 1500000)					150000
Net operating Income					497,275

А 4 5 6 7 Data for the year just er Estimated total manufa Estimated total direct! Actual total direct labo 275000 25000 27760 Beginning 15000 27875 34600 375000 536300 302750 Ending 11375 22350 26450 =H12 =H5/H6 =H7 G20 G21 =H19-H22 9 Actual costs for the yea Purchase of raw materi Direct labor cost Manufacturing overhez 13 Inventories Raw materials (all direc Work in process Finished goods 17 Use the data to answer 18 1. Compute applied ov Actual manufacturing Predetermined overhe: Actual direct labor hou Manufacturing overhez 23 Under applied (overapp 24 2. Prepare a schedule o Stanford enterprises Schedule of cost of God 27 Direct materials Raw materials inventor Add; Purchses of raw m Total raw materials ava Deduct; Raw materials Raw materials used in 33 Direct labor 34 Manufacturing overhez 35 Total manufacturing co 36 Add: Beginning work in 37 38 Deduct; Ending work ir 39 Cost of goods manufact 40 =G14 =H10 =H28+H29 =-H14 =G30+G31 =H11 =H22 G33+G34 =G15 =H35+H36 --H15 =H37+H38


41 3. Prepare a Income Sta Stanford Enterprises Income Statement 1500000 =G16 43 44 Sales Revenue 45 Less: Cost of good sold 46 Finished goods invento 47 Add: Cost of goods mar 48 Cost of goods available 49 Deduct: Finished good: 50 Unadjusted cost of goo 51 Underapplied (overapp 52 Adjusted cost of goods 53 Gross Profit 54 Less: Selling and Admin 55 Net Income =H39 =E46+D47 =-H16 =D48+049 =H23 =E50+E51 =F44-F52 =10%*F44 =F53-F54