DETAIL EVERY ANSWER WITH THE EXCEL FORMULA TO SOLVE THE
EQUATION - EVERY ANSWER NEEDS AN EXCEL EQUATION
DETAIL EVERY ANSWER WITH THE EXCEL FORMULA TO SOLVE THE
EQUATION - EVERY ANSWER NEEDS AN EXCEL EQUATION
DETAIL EVERY ANSWER WITH THE EXCEL FORMULA TO SOLVE THE
EQUATION - EVERY ANSWER NEEDS AN EXCEL EQUATION
DETAIL EVERY ANSWER WITH THE EXCEL FORMULA TO SOLVE THE
EQUATION - EVERY ANSWER NEEDS AN EXCEL EQUATION
DETAIL EVERY ANSWER WITH THE EXCEL FORMULA TO SOLVE THE
EQUATION - EVERY ANSWER NEEDS AN EXCEL EQUATION
DETAIL EVERY ANSWER WITH THE EXCEL FORMULA TO SOLVE THE
EQUATION - EVERY ANSWER NEEDS AN EXCEL EQUATION
DETAIL EVERY ANSWER WITH THE EXCEL FORMULA TO SOLVE THE
EQUATION - EVERY ANSWER NEEDS AN EXCEL EQUATION
DETAIL EVERY ANSWER WITH THE EXCEL FORMULA TO SOLVE THE
EQUATION - EVERY ANSWER NEEDS AN EXCEL EQUATION
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.
- Basic Math functions: 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 function: 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.
Stanford Enterptises The allocation base for overhead is direct labor hours uses job-order costing Data for the year just ended: 275,000 Estimated total manufacturing overhead cost 25,000 Estimated total direct labor hours 27,760 Actual total direct labor hours Actual costs for the year: $375,000 Purchase of raw materials (all direct) $536,300 Direct labor cost $302,750 Manufacturing overhead costs Beginning Ending Inventories: $ 15,000 $ 11,375 Raw materials (all direct) Work in process S $ 22,350 27,875 Finished goods S $ 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 Predetermined overhead rate Actual direct labor hours
Manufacturing overhead applied Underapplied (overapplied) manufacturing overhead 2. Prepare a schedule of cost of goods manufactured: Stanford Enterprises Schedule of Cost of Goods Manufactured Direct materials: Raw materials inventory, beginning Add: Purchases of raw materials Total raw materials available Deduct: Raw materials inventory, ending Raw materials used in production Direct labor Manufacturing overhead applied to work in process Total manufacturing costs Add: Beginning work in process inventory Deduct: Ending work in process inventory Cost of goods manufactured |3. Prepare a schedule of cost of goods sold
Total manufacturing costs Add: Beginning work in process inventory Deduct: Ending work in process inventory Cost of goods manufactured 3. Prepare a schedule of cost of goods sold. Stanford Enterprises Schedule of Cost of Goods Sold Finished goods inventory, beginning Add: Cost of goods manufactured Cost of goods available for sale Deduct: Finished goods inventory, ending Unadjusted cost of goods sold Underapplied (overapplied) overhead Adjusted cost of goods sold