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Excel formulas must be used. Please be sure to submit your file as an Excel file. Any submissions in .numbers format will receive a 0. MFG Student Name => Section Number => Data Section: Depreciation-equipment $45,000 Direct labor 642,000 Direct materials inventory, 1/1 Direct materials inventory, 12/31 Factory rent Finished goods, 1/1 Finished goods, 12/31 91,500 93,000 76,410 132,000 172,500 Indirect labor 37,500 26,250 645,180 30,300 28,665 Indirect materials Purchases of direct materials Work in process, 1/1 Work in process, 12/31 Answer Section: Jackson Manufacturing Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31 Work in process, 1/1 30,300 Direct materials Direct materials inventory, 1/1 91,500 Add: Purchases of Materials 172500 Cost of direct materials available $264,000 Less: Direct Material, 12/31 -91500 Cost of direct materials used ($81,000) 642.000 Direct labor Manufacturing overhead: Factory rent Depreciation - Equipment $76,410 45,000 37,500 26,250 Indirect Labor Indirect Material 185,160 Total manufacturing costs incurred Formula Total manufacturing costs $0 Less: Work in Process, 12/31 Formula Cost of goods manufactured Finished Goods, 1/1 Formula Formula Cost of goods available for sale Finished goods, 12/31 FORMULA11 Less: 172,500 Cost of Goods Sold FORMULA12 ===========

Excel formulas must be used. Please be sure to submit your file as an Excel file. Any submissions in .numbers format will receive a 0. MFG Student Name => Section Number => Data Section: Depreciation-equipment $45,000 Direct labor 642,000 Direct materials inventory, 1/1 Direct materials inventory, 12/31 Factory rent Finished goods, 1/1 Finished goods, 12/31 91,500 93,000 76,410 132,000 172,500 Indirect labor 37,500 26,250 645,180 30,300 28,665 Indirect materials Purchases of direct materials Work in process, 1/1 Work in process, 12/31 Answer Section: Jackson Manufacturing Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31 Work in process, 1/1 30,300 Direct materials Direct materials inventory, 1/1 91,500 Add: Purchases of Materials 172500 Cost of direct materials available $264,000 Less: Direct Material, 12/31 -91500 Cost of direct materials used ($81,000) 642.000 Direct labor Manufacturing overhead: Factory rent Depreciation - Equipment $76,410 45,000 37,500 26,250 Indirect Labor Indirect Material 185,160 Total manufacturing costs incurred Formula Total manufacturing costs $0 Less: Work in Process, 12/31 Formula Cost of goods manufactured Finished Goods, 1/1 Formula Formula Cost of goods available for sale Finished goods, 12/31 FORMULA11 Less: 172,500 Cost of Goods Sold FORMULA12 ===========

Quickbooks Online Accounting
Quickbooks Online Accounting
3rd Edition
ISBN:9780357391693
Author:Owen
Publisher:Owen
Chapter3: Setting Up A New Company
Section: Chapter Questions
Problem 1.3C
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How do i solve this using the Excel formulas????

Excel formulas must be used. Please be sure to submit your file as an Excel file. Any submissions in .numbers format will receive a 0. MFG Student Name => Section Number => Data Section: $45,000 642,000 Depreciation-equipment Direct labor Direct materials inventory, 1/1 Direct materials inventory, 12/31 Factory rent Finished goods, 1/1 Finished goods, 12/31 Indirect labor 91,500 93,000 76,410 132,000 172,500 37,500 26,250 645,180 30,300 28,665 Indirect materials Purchases of direct materials Work in process, 1/1 Work in process, 12/31 Answer Section: Jackson Manufacturing Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31 Work in process, 1/1 30,300 Direct materials Direct materials inventory, 1/1 91,500 Add: Purchases of Materials 172500 Cost of direct materials available $264,000 Less: Direct Material, 12/31 -91500 Cost of direct materials used ($81,000) Direct labor 642,000 Manufacturing overhead: $76,410 Factory rent Depreciation - Equipment 45,000 Indirect Labor 37.500 Indirect Material 26,250 185,160 Total manufacturing costs incurred Formula Total manufacturing costs $0 Less: Work in Process, 12/31 Formula Cost of goods manufactured Formula Finished Goods, 1/1 Formula Cost of goods available for sale FORMULA11 Less: Finished goods, 12/31 172,500 Cost of Goods Sold FORMULA12 ===========
Transcribed Image Text:Excel formulas must be used. Please be sure to submit your file as an Excel file. Any submissions in .numbers format will receive a 0. MFG Student Name => Section Number => Data Section: $45,000 642,000 Depreciation-equipment Direct labor Direct materials inventory, 1/1 Direct materials inventory, 12/31 Factory rent Finished goods, 1/1 Finished goods, 12/31 Indirect labor 91,500 93,000 76,410 132,000 172,500 37,500 26,250 645,180 30,300 28,665 Indirect materials Purchases of direct materials Work in process, 1/1 Work in process, 12/31 Answer Section: Jackson Manufacturing Schedule of Cost of Goods Manufactured and Sold For the Year Ended December 31 Work in process, 1/1 30,300 Direct materials Direct materials inventory, 1/1 91,500 Add: Purchases of Materials 172500 Cost of direct materials available $264,000 Less: Direct Material, 12/31 -91500 Cost of direct materials used ($81,000) Direct labor 642,000 Manufacturing overhead: $76,410 Factory rent Depreciation - Equipment 45,000 Indirect Labor 37.500 Indirect Material 26,250 185,160 Total manufacturing costs incurred Formula Total manufacturing costs $0 Less: Work in Process, 12/31 Formula Cost of goods manufactured Formula Finished Goods, 1/1 Formula Cost of goods available for sale FORMULA11 Less: Finished goods, 12/31 172,500 Cost of Goods Sold FORMULA12 ===========
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