Excel SIM: Cost of Goods Manufactured and Cost of Goods Sold1. Compute a predetermined overhead rate.2. Prepare schedules of cost of goods manufactured and cost of goods sold.国日Cost of Goods Manufactured and Cost of Goods Sold - ExcelFILEDATAVIEWSign InНОМЕINSERTPAGE LAYOUTFORMULASREVIEWHA ACalibri11Conditional Format asCellTable - Styles -PasteI UAlignment NumberCellsFormattingClipboardFontStylesA1feACEFGH2 The allocation base for overhead is direct labor hours.34 Data for the year just ended:5 Estimated total manufacturing overhead cost$ 275,0006 Estimated total direct labor hours25,0007 Actual total direct labor hours27,76089 Actual costs for the year:$375,000$536,300$302,75010Purchase of raw materials (all direct)11Direct labor cost12Manufacturing overhead costs13Beginning$14 Inventories:Ending15,000$Raw materials (all direct)Work in process1511,37516$27,875$22,35017Finished goods$34,600$26,4501819 Use the data to answer the following.2021 1. Compute applied overhead and determine the amount of underapplied or overapplied overhead:Actual manufacturing overhead cost222$302,75023Predetermined overhead rate$11.0024Actual direct labor hoursSheet1> Excel SIM: Cost of Goods Manufactured and Cost of Goods Sold1. Compute a predetermined overhead rate.2. Prepare schedules of cost of goods manufactured and cost of goods sold.区日らCost of Goods Manufactured and Cost of Goods Sold - ExcelFILEНОМЕINSERTPAGE LAYOUTFORMULASDATAREVIEWVIEWSign InCalibri11 - A A%PasteBIUAlignment NumberConditional Format asCellCellsFormattingTable - Styles -ClipboardFontStylesA1feAВCDEFGH24Actual direct labor hours25Manufacturing overhead applied2627Underapplied (overapplied) manufacturing overhead2829 2. Prepare a schedule of cost of goods manufactured:3031Stanford Enterprises32Schedule of Cost of Goods Manufactured33 Direct materials:34Raw materials inventory, beginning35Add: Purchases of raw materials36Total raw materials available37Deduct: Raw materials inventory, ending38Raw materials used in production39 Direct labor40 Manufacturing overhead applied to work in process41 Total manufacturing costs42 Add: Beginning work in process inventory43 Total cost of work in process44 Deduct: Ending work in process inventory45 Cost of goods manufactured4647 3. Prepare a schedule of cost of goods sold.Sheet1READY囲100%Attempt(s)HintShow Me

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Description: Excel SIM: Cost of Goods Manufactured and Cost of Goods Sold1. Compute a predetermined overhead rate.2. Prepare schedules of cost of goods manufactured and cost of goods sold.国日Cost of Goods Manufactured and Cost of Goods Sold - ExcelFILEDATAVIEWSig

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The allocation base for overhead is direct labor hours. Data for the year just ended: Estimated total manufacturing overhead cost $ 275,000 Estimated total direct labor hours 25,000 Actual total direct labor hours 27,760 Actual costs for the year: Purchase of raw materials (all direct) $375,000 Direct labor cost $536,300 Manufacturing overhead costs $302,750 Beginning $ Ending Inventories: Raw materials (all direct) 15,000 $ 11,375 2$ 2$ Work in process Finished goods 27,875 22,350 $ 34,600 $ 26,450 Use the data to answer the following. 1. Compute applied overhead and determine the amount of underapplied or overapplied overhead: Actual manufacturing overhead cost $ 302,750 Predetermined overhead rate $11.00 Actual direct labor hours Sheet1

The allocation base for overhead is direct labor hours. Data for the year just ended: Estimated total manufacturing overhead cost $ 275,000 Estimated total direct labor hours 25,000 Actual total direct labor hours 27,760 Actual costs for the year: Purchase of raw materials (all direct) $375,000 Direct labor cost $536,300 Manufacturing overhead costs $302,750 Beginning $ Ending Inventories: Raw materials (all direct) 15,000 $ 11,375 2$ 2$ Work in process Finished goods 27,875 22,350 $ 34,600 $ 26,450 Use the data to answer the following. 1. Compute applied overhead and determine the amount of underapplied or overapplied overhead: Actual manufacturing overhead cost $ 302,750 Predetermined overhead rate $11.00 Actual direct labor hours Sheet1

FINANCIAL ACCOUNTING

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ISBN:9781259964947

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Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Using the attached Prepare a schedule of cost of goods manufactured.
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Steel Company uses activity-based costing and reports the following for this year. Allocate overhead costs to a job that uses 40 machine hours and 30 direct labor hours. Activity Budgeted Cost Activity Cost Driver Budgeted Activity Usage Cutting $ 56,000 Machine hours (MH) 2,000 machine hours Assembly 240,000 Direct labor hours (DLH) 6,000 direct labor hours Total $ 296,000
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immy Author Company has the following data for the past year: Actual overhead $512,000 Applied overhead: Work-in-process inventory $125,000 Finished goods inventory 170,000 Cost of goods sold 150,000 Total $445,000 Calculate the overhead variance for the year and close it to cost of goods sold. Provide all the details and working outs.
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