The following data from the just completed year are taken from the accounting records of Nouf Company (in
dollars):
Number of units sold (units)
Selling Price ($/unit)
Variable selling expense per unit ($/unit)
Total fixed selling expense ($)
Variable administrative expense per unit ($/unit)
Total fixed administrative expense ($)
Direct labor cost ($)
Manufacturing overhead applied to work in process ($)
Actual manufacturing overhead cost($)
Indirect materials ($)
Purchases of materials during period ($)
Balances of Inventory accounts:
Account
Beginning
Ending Balance ($)
balance ($)
Raw Materials
5.000
Work in process
15.000
Finished goods
9.000
Instructions. Please prepare the following reports in the assigned tabs of the excel file:
Sheet 1. Calculate POHR, overhead applied and under- or overapplied overhead
Sheet 2. Prepare a schedule of cost of goods manufactured.
Sheet 3. Prepare a schedule of cost of goods sold; Calculate Adjusted COGS.
Sheet 4. Prepare a traditional format income statement;
Sheet 5. Prepare a contribution format income statement.
9.000
4.000
2.000
nting records of Nouf Company (in
1.000
925
46
100.000
34
(ID number of
Student 1)/1,000
120.000
Calculate in
sheet “Overhead
applied”
(ID number of
Student 2)/1,000
3.000
80.000
Ending Balance ($)
9.000
4.000
2.000
Data
Allocation base
Estimated manufacturing overhead cost
Estimated total amount of the allocation base
Actual manufacturing overhead cost
Actual total amount of the allocation base
Machine-hours
$300.000
75.000
(ID number
of Student
2)/1,000
68.000
Enter a formula into each of the cells marked with a ? below
Computation of the predetermined overhead rate
Estimated manufacturing overhead cost
Estimated total amount of the allocation base
Predetermined overhead rate
Computation of underapplied or overapplied manufacturing overhead
Actual manufacturing overhead cost
Manufacturing overhead cost applied to Work in Process during the year:
Predetermined overhead rate
Actual total amount of the allocation base
Manufacturing overhead applied
Underapplied (overapplied) manufacturing overhead
?
?
?
?
?
?
?
?
Machine-hours
machine-hours
machine-hours
machine-hours
per machine-hour
per machine-hour
machine-hours
Schedule of Cost of Goods Manufactured
Schedule of Cost of Goods Sold
Traditional Format Income Statement
Contribution Format Income Statement
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