NOTE: Please solve in excel and provide the formula in excel thank you! E4-3 Cost of Goods Manufactured; Cost of Goods Sold. Valleydale Company incurred thefollowing costs during the month: direct labor, $120,000; factory overhead, $108,000; anddirect materials purchases, $160,000. Inventories were costed as follows:Finished Goods.Work in Process.Direct Materials.Required:(1) Calculate the cost of goods manufactured(2) Calculate the cost of goods sold.(a) Account balances:Finished Goods.Work in ProcessDirect Material.Indirect Material.E4-4 Manufacturing Costs; Cost of Goods Manufactured; Inventories. Cost data on theactivities of Columbia Manufacturing for May are as follows:April 30(b) Transactions in May:Supplies purchased.Cost of goods sold.Raw materials purchased.Indirect labor....Factory heat, light, and power.Factory rent.Factory insuranceSales commissions...Beginning$27,00061,50037,500Administrative expenses....Production supervisor's salary$45,60260,42010,2505,600Ending$26,00057,50043,500$Required:(1) Calculate the factory overhead incurred in May.(2) Determine the cost of goods manufactured in May.(3) Determine the ending balance in finished goods at May 31.May 31?52,80012,7005,180$ 16,500280,000105,00022,00011,22018,5002,00048,00025,0005,000(c) 4,250 direct labor hours were worked in May. Laborers work a 40-hour week and arepaid $22 per hour for the regular shift and time-and-a-half for each hour of overtime.Of the 4,250 hours, 250 hours were worked in overtime in May. The company treatsthe overtime premium as a part of overhead.

Name: NOTE: Please solve in excel and provide the formula in excel thank you
Uploaded: 2024-03-20T06:33:06.000Z
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Description: NOTE: Please solve in excel and provide the formula in excel thank you! E4-3 Cost of Goods Manufactured; Cost of Goods Sold. Valleydale Company incurred thefollowing costs during the month: direct labor, $120,000; factory overhead, $108,000; anddirec