Problems Prepare the problems below using Excel. Upload the workbook using the link. 1. (10 points) Alake Company is a manufacturing firm that uses job-order costing.The company applies overhead to jobs using a predetermined overhead rate based on raw materials used. At the beginning of the year, the company estimated manufacturing overhead cost of $210,600 and estimated raw materials used of $365,625. The following transactions were recorded for the year:  a. Raw materials were purchased, $507,100. b. The following employee costs were incurred: direct labor, $220,080; indirect labor, $14,500; sales salaries, $46,700; sales commissions, $16,000; and administrative salaries, $57,200. c. Raw materials were requisitioned for use in production, $355,590 ($339,490 direct and $16,100 indirect). d. Depreciation for the year was $120,400, of which $113,100 is related to factory operations, $4,300 is related to sales equipment, and $3,000 is related to administative office equipment. e. Factory utility costs, $91,300. f. Advertising, $109,800. g. Manufacturing overhead was applied to jobs using the appropriate allocation base established above for applying overhead. Machine-hours worked for the year were 35,700. The average hourly rate for direct labor was $21.00 per hour. h. The cost of goods manufactured for the year was $951,100. i. Sales for the year totaled $1,251,100 and the costs on the job cost sheets of the goods that were sold totaled $976,500. j. The balance in the Manufacturing Overhead account was closed out to Cost of Goods Sold. Required:  Use the horizontal model spreadsheet to record each of the transactions above (a. through j.). Assume that all transactions with employees, customers, and suppliers were conducted in cash. 2. (8 points) EMD Corporation manufactures two products, Product S and Product W. Product W is of fairly recent origin, having been developed as an attempt to enter a market closely related to that of Product S. Product W is the more complex of the two products, requiring one and a half hours of direct labor time per unit to manufacture compared to three quarters of an hour of direct labor time for Product S. Product W is produced on an automated production line. The company estimated it would incur $501,720 in manufacturing overhead costs and produce 10,000 units of Product W and 62,100 units of Product S during the current year. Cost data for materials and direct labor are: Product S Product W Direct materials cost per unit  $              11.00  $              24.90 Direct labor cost per hour  $              12.50  $              16.10 The company’s overhead costs can be attributed to four major activities. These activities and the amount of overhead cost attributable to each for the current year are given below: Activity Cost Pools Estimated Overhead Cost Expected Activity for Product S Expected Activity for Product W Machine setups required  $        209,220                     800                  1,400 Purchase orders issued  $          40,140                     400                     200 Machine-hours required  $          96,750                  3,000                  9,900 Maintenance requests issued  $        155,610                     860                  1,240 Required:  Using the data above and an activity-based costing approach, determine the unit product cost of each product for the current year. Carry unit costs to four decimal places. 3. (8 points) Entin Corporation reported the following data for the month of January: Inventories  Beginning   Ending  Raw materials  $          31,300  $            38,800 Finished goods              41,800                48,800 Work in process              10,800                16,100 Additional information:  Manufacturing overhead cost incurred   $            60,500  Direct labor cost                 81,300  Raw materials purchases                 66,000  Manufacturing overhead applied to Work in Process                 67,000 Required:  a. Prepare a Schedule of Cost of Goods Manufactured in good form with proper labels.  b. Prepare a Schedule of Cost of Goods Sold in good form with proper labels.

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