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Computing Overhead Rate and Preparing Schedules of Cost of Goods 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. Here are some tips for using Excel: - Cell Reference: Allows you to refer to data from another cell in the worksheet. If you entered "=B5" Into a blank cell, the formula would output the value from cell B5. - Basic Math Functions: Allow 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 muitiply), and/(forward slash to divide). For example, if you entered =B4+B5in a blank cell, the formula would add the values from those cells and output the resuit. - SUM Function: Allows you to refer to multiple cells and adds all the values. You can add individual cell references or ranges. If you entered "=SUM(C4,C5,C6) into a blank cell, the formula would output the result of adding those three separate cells. Simllarly. If you entered = SUM(C4:C6)", the formula would output the same result of adding those cells. 1. Use the Open Excel In New Tab button to launch this question 2. When finished in Excel, use the Save and Return to Assignment button in the lowerright to retum to Connect. For an ankwe to be graded at coriect you must use an Excel formitat 1. Begin each formula wth ari =19h A statement for requirement 1 is 2. Festerence celic, usseid of entering values Hill Examplo:-83+c3 mord, inc uses we thted-average inswers (i) Workin process, berinnint Units in process Legend F Graded cen Leive blank if no answer is needed Scratchoad Use as a non-graded workspace Required: Use the data to fili in the following information (Use celis AS to 619 from the given intormation to complete this question.) Hayword, Inc. uses weighted-average costing and has two departments - mixing and packaging The following information relates to work in the mixing department for the month of July: 2. Compute costs. 2. Compute costs. Mixing Department Costs per Equivalent Unit Cost of beginning work in process inventory Costs added during the period Total cost Equivalent units of production Cost per equivalent unit 47 Mixing Department 48. Costs of Ending Work in Process Inventory and the Units Transferred Out 49 50 Ending work in process inventory: 51 Equivalent units of production 52 Cost per equivalent unit 53 Cost of ending work in process inventory 54. Units completed and transferred out: 55. Units transferred to the next department. 56 Cost per equivalent unit 57 Cost of units transferred out Materials Conversion Total 58 59 4. Prepare report. 60 61 Mixing Department Cost Reconciliation 62 Costs to be accounted for: 63 Cost of beginning work in process inventory 64. Costs added to production during the period 65 Total cost to be accounted for 66 Costs accounted for as follows: 67 Cost of ending work in process inventory 68 Cost of units transferred out 69 Total cost accounted for

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