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: 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.) 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 machinehours in the Assembly Department increases from 3,000 machine-hours to 4,000 machine-hours? (Round your final answer to 2 decimal places.) 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 40,000 direct labor-hours? (Round your final answer to 2 decimal places.) EXHIBIT 2-5 Dickson Company: An Example Using Multiple Predetermined Overhead Rates Data Markup on job cost 75% Department Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Milling Assembly Variable manufacturing overhead per direct labor-hour $3.75 Cost summary for Job 407 Department Machine-hours Direct labor-hours Direct materials Direct labor cost Enter a formula into each of the cells marked with a ? below Step 1: Calculate the estimated total manufacturing overhead cost for each department Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour or direct labor-hour Total machine-hours or direct labor-hours Milling$390,000$2.0060,000$120,000Assembly$500,000$3.7580,000$300,000 lotal variable manufacturing overhead Total manufacturing overhead Step 2: Calculate the predetermined overhead rate in each department \begin{tabular}{l|rr|r} & \multicolumn{1}{c|}{ Ailling } & \multicolumn{1}{c}{ Assembly } \\ \hline Total manufacturing overhead & $510,000 & $800,000 \\ \hline Total machine-hours or direct labor-hours & 60,000 & 80,000 \\ \hline Predetermined overhead rate per machine-hour or direct labor-hour & $8.50 & $10.00 \end{tabular} Step 3: Calculate the amount of overhead applied from both departments to Job 407 \begin{tabular}{l|r|r|} & Milling & Assembly \\ \hline Predetermined overhead rate per machine-hour or direct labor-hour & $8.50 & $10.00 \\ \hline Machine-hours or direct labor-hours for the job & 90 & 20 \\ \hline Manufacturing overhead applied & $765.00 & $200.00 \\ \hline \end{tabular} Step 4: Calculate the total job cost for Job 407 Direct materials Direct labor cost Manufacturing overhead applied Total cost of Job 407 \begin{tabular}{r|r|r|} \multicolumn{1}{|c|}{ Milling } & \multicolumn{1}{c|}{ Assembly } & \multicolumn{1}{c|}{ Total } \\ \hline$800.00 & $370.00 & $1,170.00 \\ \hline$70.00 & $280.00 & $350.00 \\ \hline$765.00 & $200.00 & $965.00 \\ \cline { 3 - 3 } & & $2,485.00 \\ \hline \hline \end{tabular} Step 5: Calculate the selling price for Job 407 Total cost of Job 407 Markup Selling price of Job 407 2,485.001,863.754,348.75