2. Change all of the numbers in the data area of your worksheet so that it looks like this: A B 1 Chapter 3: Applying Excel 2 3 Data 4 Machine-hours Allocation base Estimated manufacturing overhead cost 5 $ 6 Estimated total amount of the allocation base 7 680,400 81,000 machine-hours 670,700 74,000 machine-hours Actual manufacturing overhead cost Actual total amount of the allocation base $ 8 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.) (b) By how much is the manufacturing overhead underapplied or overapplied? manufacturing overhead 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 84,000 machine hours, but keep everything the same as in Requirement 2. The data area of your worksheet should now look like this: B C 1 Chapter 3: Applying Excel 2 3 Data 4 Allocation base Machine-hours 5 $ 680 400 6 84.000 machine-hours Estimated manufacturing overhead cost Estimated total amount of the allocation base Actual manufacturing overhead cost Actual total amount of the allocation base 7 $ 670,700 8 74,000 machine-hours (a) By how much is the manufacturing overhead underapplied or overapplied? manufacturing overhead (b) Why is the amount of underapplied (overapplied) manufacturing overhead different from Requirement 2 above? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answers and double click the box with the question mark to empty the box for a wrong answers. Any boxes left with a question mark will be automatically graded as incorrect.) The change in the estimated total amount of the allocation base affected the predetermined overhead rate. The change in the estimated total amount of the allocation base affected the amount of manufacturing overhead applied. Actual manufacturing overhead cost differs from period to period. The estimated manufacturing overhead cost did not change in proportion to the change in the estimated total amount of the allocation base Required information 4. Change the estimated total amount of the allocation base back to 81,000 machine hours, so that the data area of you worksheet looks exactly the same as in Requirement 2. Now change the actual manufacturing overhead cost from $670,700 to $667,100. The data area of your worksheet should now look like this: B C 1 Chapter 3: Applying Excel 2 3 Data 4 Allocation base 5 6 Estimated manufacturing overhead cost Estimated total amount of the allocation base Actual manufacturing overhead cost Actual total amount of the allocation base Machine-hours $ 680,400 81,000 machine-hours $ 667,100 74,000 machine-hours 7 8 (a) By how much is the manufacturing overhead underapplied or overapplied? manufacturing overhead (b) Why is the amount of underapplied (overapplied) manufacturing overhead different from Requirement 2 above? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answers and double click the box with the question mark to empty the box for a wrong answers. Any boxes left with a question mark will be automatically graded as incorrect.) ? The predetermined overhead rate changed ? The change in the actual manufacturing overhead cost directly resulted in a comparable change in the amount of underapplied (overapplied) manufacturing overhead. ? The change in the estimated total amount of the allocation base affected the amount of manufacturing overhead applied