, 18% History Bo Help Help Save & Exi 2 3 Stanford Enterprises has provided its

Question

, 18% History Bo Help Help Save & Exi 2 3 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 cel," E5 was entered, the formula would output the result from cell E5, or $275,000 in this example. 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 multiplyl, and/ (forward slash to divide). From the Excel Simulation below, if in a blank cell E6Er was entered the formula would add the values from those cells and output the result, or 52760 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 -SUMIE10 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 1,214050 in this example

Explanation / Answer

1.

Predetermined Overhead rate = Estimated total manufacturing overhead cost / Estimated total direct labour hours
= $275,000 / 25000 = $11 per labour hour

2.

3.

Computation of applied overhead and determination of underapplied or overapplied overhead Particulars       Actual Manufacturing Overhead Cost $               302,750.00 Predetermined Overhead rate $                          11.00 Actual Direct labour hours 27760 Manufacturing Overhead Applied $               305,360.00 Under applied (Over Applied) Manufacturing overhead $                 (2,610.00)

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