2. Change the total fixed manufacturing overhead cost for the Milling Department in Data area back to $390,000, keeping all of the other data the same as in the original example. Consider a new job, Job 408, with the following characteristics: B 1 Chapter 2: Applying Excel 2 3 Cost summary for Job 408 Department Milling Assembly 4 90 3 5 6 Machine-hours Direct labor-hours Direct materials cost 7 20 $ 600 S 7 260 $ 119 $ 400 8 Direct labor cost In your worksheet, enter this new data in the cells for Job 407. What is the new selling price for Job 408? (Round your final answer to 2 decimal places.) Selling price for Job 408 3. Without changing the data for the job from requirement 2 above, what is the selling price for Job 408 if the total number of machine-hours in the Assembly Department increases from 3,000 machine hours to 6.000 machine-hours? (Round your final answer to 2 decimal places.) Selling price for Job 408 3. Without changing the data for the job from requirement 2 above, what is the selling price for Job 408 it the total number of machine-hours in the Assembly Department increases from 3.000 machine hours to 6,000 machine hours? (Round your final answer to 2 decimal places.) Selling price for Job 408 4. Restore the total number of machine-hours in the Assembly Department to 3,000 machine-hours. And keep the job data the same as it was in Requirement 2. What is the selling price for Job 408 if the total number of direct labor-hours in the Assembly Department decreases from 80,000 direct labor-hours to 50.000 direct labor-hours? (Round your final answer to 2 decimal places.) Selling price for Job 408 counting/Gation16/ahibit 2.5pg Step 1: Calculate the estimated total manufacturing overhead cost for each department Milling Department Overhead Cost (Y): Assembly Department Overhead Cost(); = $390,000 + ($2.00 per MH X 60,000 MHS) = $500,000 +($3.75 per DLH X 80,000 DLHS) =$390,000+ $120,000 - $500,000 + $300,000 = $510,000 = $800,000 Step 2: Calculate the predetermined overhead rate in each department Milling Department Overhead Rate: Assembly Department Overhead Rate: $510,000 $800,000 60,000 machine hours 80,000 direct labor-hours = $8.50 per machine-hour = $10.00 per direct labor-hour Step 3. Calculate the amount of overhead applied from both departments to Job 407 Miling Department: Overhead Applied to Job 407 Assembly Department Overhead Appled to Job 407 $8.50 per MH x 90 MHS = $10.00 per DLH X 20 DLHS = $200 = $765 Step 4: Calculate the total job cost for Job 407. Direct materials... Direct labor... Manufacturing overhead applied Milling Assembly $800 $370 $ 70 $280 $765 $200 Total $1,170 350 965 Total cost of Job 407 $2.485 Step 5: Calculate the selling price for Job 407. Total cost of Job 407 Markup ($2,485 x 75%) Selling price of Job 407 $2,485.00 1,863.75 $4,348.75