Stanford Enterprises has provided its manufacturing estimated and actual data for the year end. The Controller has asked you to compute the predetermined overhead rate, the schedule of cost of goods manufactured, and the schedule of cost of goods sold. Use the information included in the Excel Simulation and the Excel functions described below to complete the task. • Cell Reference: Allows you to refer to data from another cell in the worksheet. From the Excel Simulation below, if in a blank cell, "=E5" was entered, the formula would output the result from cell E5, or $275,000 in this example. • Bask Math functlons: Allows you to use the basic math symbols to perform mathematical functions. You can use the following keys: (plus sign to add), - (minus sign to subtract), * (asterisk sign to multiply), and/ (forward slash to divide). From the Excel Simulation below, if in a blank cell "=E6+E7" was entered, the formula would add the values from those cells and output the result, or 52,760 in this example. If using the other math symbols the result would output an appropriate answer for its function. SUM functlon: Allows you to refer to multiple cells and adds all the values. You can add individual cell references or ranges to utilize this function. From the Excel Simulation below, if in a blank cell "=SUM(E10,E11,E12)" was entered, the formula would output the result of adding those three separate cells, or 1,214,050 in this example. Similarly, if in a blank cell "=SUM(E10:E12)" was entered, the formula would output the same result of adding those cells, except they are expressed as a range in the formula, and the result would be 1,214,050 in this example. 区国日 Cost of Goods Manufactured and Cost of Goods Sold - Excel Sign In FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW - 11 Calibri A A A- Alignment Number Conditional Format as Cell Formatting- Table- Styles- Paste BIU- Cells Ed iting Clipbcard Font Styles E29 A G H 30 31 Sta nford Enterpris es Schedule of Cost of Goods Ma nufactured 32 33 Dired materials: Raw materials inventary, beginning 34 35 Add: Purchas es of raw materials 36 Total raw materials available Dedud: Raw materia is inventory ending Raw materials used in pradudion 37 * Diredlabor 40 Manufa during overhead applied to work in process 41 Total manufaduring asts 42 Ad d: Beginni ng work in pro cess inventory 43 44 Deduct: Ending work in process inventory 45 Cast of goods manufactu red 46 47 3. Prepare as dhedule of aast of goods s old 48 49 Sta nford Enterpris es 50 She dule of Cas t of Goods Sald 51 52 Finished go ods inventary beginning 53 Add: Cast of goods manufactured 54 Cost of goods available forsale 55 Deduct: Fi nis hed goods invento ry, ending 56 Unadjusted cast of goods sold 57 Underapplied (ove rapplied) overhead 58 Adjusted ast of goods s old 59 Sheet1 READY 曲 30% Attem pt(s) Hint