1 Chapter 3: Applying Excel 2 3 Data 4 Allocation base 5 Estimated manufacturing overhead cost 6 Estimated total amount of the allocation base 7 Actual manufacturing overhead cost 8 Actual total amount of the allocation base 9 10 Enter a formula into each of the cells marked with a ? below Machine-hours $300,000 75,000 machine-hours $290,000 68,000 machine-hours 11 ? machine-hours ? per machine-hour ? 20 12 Computation of the predetermined overhead rate 13 Estimated manufacturing overhead cost 14 Estimated total amount of the allocation base 15 Predetermined overhead rate 16 17 Computation of underapplied or overapplied manufacturing overhead 18 Actual manufacturing overhead cost 19 Manufacturing overhead cost applied to Work in Process during the year: Predetermined overhead rate 21 Actual total amount of the allocation base Manufacturing overhead applied 23 Underapplied (overapplied) manufacturing overhead 24 25 26 27 28 29 ? per machine-hour ? machine-hours ? ? 22 ! Required information The Excel worksheet form that appears below is to be used to recreate part of the example relating to Turbo Crafters that appears earlier in the chapter. 2. Change all of the numbers in the data area of your worksheet so that it looks like this: B A 1 Chapter 3: Applying Excel 2. 2 3 Data 4 Allocation base 5 Estimated manufacturing overhead cost 6 Estimated total amount of the allocation base 7 Actual manufacturing overhead cost Actual total amount of the allocation base Machine-hours $ 817,800 94,000 machine-hours $ 830,000 97,000 machine-hours 00 If your formulas are correct, you should get the correct answers to the following questions. (a) What is the Predetermined overhead rate? (Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Predetermined overhead rate $ 4.00 per machine-hour (b) By how much is the manufacturing overhead underapplied or overapplied? Answer is complete but not entirely correct. Overapplied manufacturing overhead $ 18,000 3. Either print or make a copy of your worksheet in your workbook before proceeding. You will need to refer back to this worksheet. Change the estimated total amount of the allocation base to 87,000 machine-hours, but keep everything the same as in Requirement 2. The data area of your worksheet should now look like this: A B 1 Chapter 3: Applying Excel 2 3 Data 4 Machine-hours 5 $ 6 Allocation base Estimated manufacturing overhead cost Estimated total amount of the allocation base Actual manufacturing overhead cost Actual total amount of the allocation base 817,800 87,000 machine-hours 830,000 97,000 machine-hours 7 $ 8