Instructions for the Microsoft Excel Templates

Advisory - The worksheets are not protected. You can over type any data within the worksheets. If you over
type important data you can usually restore it by referencing your textbook.

Detail and information on Excel is contained within the manual.

Striking the "F1" key or following the path "Windows>Excel Help" will invoke the Office Assistant and bring
up one of several help menus.

Type your name into the cell to the right of the "Name" cell. Your name will appear on each printed sheet.

Type your course identity or instructor identity into the cell to the right of "Course." This information will
appear on each printed sheet.

It is recommended that you enter the due date of your assignment in the cell to the right of the "Date" cell.

If the workbook requires more than one printed sheet, your name, course, date, and the first exercise or
problem line will appear on each sheet.

If the workbook requires more than one printed sheet page breaks are already set for normal bond - 8 1/2 X 11"
paper.

The print area of the exercise or problem is defined by the grey filled cells. These grey filled cells are the cells
immediately outside the print area.

Each worksheet will also contain a footer that includes the exercise or problem identity, the tab you printed, the
page of pages, the time, and date you printed the worksheet.

The exercises and problems may be presented slightly different than in your textbook. This is to facilitate better
utilization by the formulas available to you with Excel.

Cells that contain data that can be used by the formulas of Excel in the solution of the exercise or problem are
usually framed with black lines to help you identify those values.

Place an account name or title, such as "Cash," where "Account" or "Account title" appear.

Place a line title, such as "Net income," where "Title" or "Text Title" appear.

Place a value, such as "8.50," where "Amount" or "Value" appears.

Place a number, such as "3," where "Number" or "Quantity" appears.

The terms "Amount" and "Value" generally refer to values such as $85.97 while the terms "Number" and
"Quantity" refer to the numerical refer to 3 units or 5 years.

Where text or memorandum lines are desired for journal entries, a line below the journal entry is provided.

When an exercise or problem requires a text entry, such as "Based on the information, which option would you
recommend?" a formatted text box is provided. This is usually identified with "Enter your text answer here" or
"Place text answer here" type text. Simply click into the cell and over type the existing text.

Insert the account number where "ACCT #" appears on the template during posting.

Insert the journal reference where "JOURN #" appears on the template during posting.

The cells of the exercises and problems are already formatted for the data. No adjustment should be necessary.

Dates should be entered as "06/06/08." This will ensure that Excel will present it properly.

Negative values should be preceded by a "-" (negative sign). Negative values may be shown as ($400) vice -
$400.

The display may have "Freeze Pane" invoked so column titles remain visible during data entry.
Problem P20-3A Enos Inc. is a construction company specializing in custom patios. The patios are constructed of concrete,
brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2010, the general ledger for Enos Inc.
contains the following data.
Raw Materials Inventory $4,200 Manufacturing Overhead Applied
Work in Process Inventory $5,540 Manufacturing Overhead Incurred

Subsidiary data for Work in Process Inventory on June 1 are as follows.

Job Cost Sheets
Customer Job
Cost Element Fowler Haines
Direct materials $600 $800
Direct labor 320 540
Manufacturing overhead 400 675
$1,320 $2,015

During June, raw materials purchased on account were $3,900 and all wages were paid. Additional
overhead costs consisted of depreciation on equipment $700 and miscellaneous costs of
$400 incurred on account.
A summary of materials requisition slips and time tickets for June shows the following.
Customer Job Materials Requisition Slips Time Tickets
Fowler $800 $450
Elgin 2,000 800
Haines 500 360
Krantz 1,300 1,600
Fowler 300 390
4,900 3,600
General use 1,500 1,200
$6,400 $4,800

Overhead was assigend to jobs at the same rate of $1.25 per dollar of direct labor cost. The
patios for customers Fowler, Haines, and Krantz were completed during June and sold for a total of
Each customer paid in full.

Instructions:
(a)(i)(a) Journalize the June transactions for purchase of raw materials.

Raw Material Inventory 3,900

Accounts Payable 3,900

FileName: 55504539.xls, Tab: Problem P2-3A, Page 3 of 8, 04/10/2011, 07:03:44

(a)(i)(b) Journalize the June transactions for factory labor costs.

Factory Labor 4,800

Cash 4,800

(a)(i)(c) Journalize the June transactions for manufacturing overhead costs incurred.

Manufacturing Overhead 1,100

Accumulated Depreciation-equipment
Accounts Payable

(a)(ii)(a) Journalize the June transactions for the assignment of direct materials.

Work-in Process inventory 4,900

Manufacturing Overhead 1,500
Raw Material Inventory 6,400

(a)(ii)(b) Journalize the June transactions for the assignment of direct labor.

Work-in Process Inventory 3,600

Manufacturing Overhead 1,200
Factory Labor 4,800

(a)(ii)(c) Journalize the June transactions for the assignment of overhead to production.

Work-in Process Inventory 4,500

Manufacturing Overhead

(a)(iii)(a) Journalize the June transactions for the completion of jobs.

Finished Goods Inventory 14,740

Work-in Process Inventory 14,740

Direct Direct Manufacturing

Job
Material Labor Overhead
Fowler $1,700 $1,160 $1,450
Haines 1,300 900 $1,125
Krantz 2,200 2,180 $2,725

FileName: 55504539.xls, Tab: Problem P2-3A, Page 4 of 8, 04/10/2011, 07:03:44

(a)(iii)(b) Journalize the June transactions for the sale of goods.

Cash 18,900
Sales 18,900

Cost of Goods Sold 14,740

Finished Goods Inventory 14,740

(b) Post the entries to Work in Process Inventory.

Work in Process Inventory

6/1/10 Balance 5,540 6/30/10 Completed Work 14,740
Direct Material 4,900
Direct Labor 3,600
Overhead Applied 4,500
6/30/2010 Balance 3,800

(c) Reconcile the balance in Work in Process Inventory with the costs of unfinished goods.

Work in Progress Inventory $3,800

Elgin Direct Material $4,900

Direct Labor 3,600
Manufacturing Overhead 4,500 $13,000

(d) Prepare a cost of goods manufactured schedule for June.

ENOS INC.
Cost of Goods Manufactured Schedule
For the Month Ended June 30, 2010
Work in process, June 1 $5,540
Direct Material Used $4,900
Direct Labor $3,600
Manucturing Overhead Applied $4,500
Total manufacturing costs 13,000
Total Cost of Work-in Process 18,540
Less: Work in process, June 30 3,800
Cost of Goods Manufactured $14,740

FileName: 55504539.xls, Tab: Problem P2-3A, Page 5 of 8, 04/10/2011, 07:03:44

patios are constructed of concrete,
general ledger for Enos Inc.

ad Applied $32,640
ad Incurred $31,650

Krantz
$900
580
725
$2,205

all wages were paid. Additional

miscellaneous costs of

Time Tickets
$450
800
360
1,600
390
3,600
1,200
$4,800

dollar of direct labor cost. The

tal of $18,900

FileName: 55504539.xls, Tab: Problem P2-3A, Page 6 of 8, 04/10/2011, 07:03:44

 700
400

4,500

Total
Costs
$4,310
$3,325
$7,105
$14,740

FileName: 55504539.xls, Tab: Problem P2-3A, Page 7 of 8, 04/10/2011, 07:03:44

FileName: 55504539.xls, Tab: Problem P2-3A, Page 8 of 8, 04/10/2011, 07:03:44