407 information

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.)

answer : 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.)

answer:

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.)

answer:

Chapter 2: Applying Excel . Data Markup on job cost 75% Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Department Milling Assembly 60,000 3,000 8,000 80,000 $390,000 $500,000 $2.00 $3.75 Cost summary for Job 407 Machine-hours Direct labor-hours Direct materials Direct labor cost Department Milling Assembly 90 4 5 20 $800 $370 $70 $280 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 Total variable manufacturing overhead Total manufacturing overhead Milling $390,000 $2.00 60,000 $120.000 $510,000 Assembly $500,000 $3.75 80,000 $300,000 $800,000 Step 2: Calculate the predetermined overhead rate in each department Milling Total manufacturing overhead Total machine-hours or direct labor-hours Predetermined overhead rate per machine-hour or direct labor-hour $510,000 60,000 $8.50 Assembly $800,000 80,000 $10.00 Step 3: Calculate the amount of overhead applied from both departments to Job 407 Predetermined overhead rate per machine-hour or direct labor-hour Machine-hours or direct labor-hours for the job Manufacturing overhead applied Milling $8.50 90 $765.00 Assembly $10.00 20 $200.00 Step 4: Calculate the total job cost for Job 407 Direct materials Direct labor cost Manufacturing overhead applied Total cost of Job 407 Milling $800.00 $70.00 $765.00 $1,635.00 Assembly $370.00 $280.00 $200.00 $850.00 Total $1,170.00 $350.00 $965.00 $2.485.00 Step 5: Calculate the selling price for Job 407 Total cost of Job 407 Markup Selling price of Job 407 1,864.00 4,349.00 A 1 Chapter 2: Applying Excel 2 3 Cost summary for Job 408 4 Department Milling Assembly 70 5 Machine-hours 4 6 Direct labor-hours 5 40 7 Direct materials cost $ 270 600 $ 8 800 Direct labor cost $ 100 $ Chapter 2: Applying Excel . Data Markup on job cost 75% Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Department Milling Assembly 60,000 3,000 8,000 80,000 $390,000 $500,000 $2.00 $3.75 Cost summary for Job 407 Machine-hours Direct labor-hours Direct materials Direct labor cost Department Milling Assembly 90 4 5 20 $800 $370 $70 $280 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 Total variable manufacturing overhead Total manufacturing overhead Milling $390,000 $2.00 60,000 $120.000 $510,000 Assembly $500,000 $3.75 80,000 $300,000 $800,000 Step 2: Calculate the predetermined overhead rate in each department Milling Total manufacturing overhead Total machine-hours or direct labor-hours Predetermined overhead rate per machine-hour or direct labor-hour $510,000 60,000 $8.50 Assembly $800,000 80,000 $10.00 Step 3: Calculate the amount of overhead applied from both departments to Job 407 Predetermined overhead rate per machine-hour or direct labor-hour Machine-hours or direct labor-hours for the job Manufacturing overhead applied Milling $8.50 90 $765.00 Assembly $10.00 20 $200.00 Step 4: Calculate the total job cost for Job 407 Direct materials Direct labor cost Manufacturing overhead applied Total cost of Job 407 Milling $800.00 $70.00 $765.00 $1,635.00 Assembly $370.00 $280.00 $200.00 $850.00 Total $1,170.00 $350.00 $965.00 $2.485.00 Step 5: Calculate the selling price for Job 407 Total cost of Job 407 Markup Selling price of Job 407 1,864.00 4,349.00 A 1 Chapter 2: Applying Excel 2 3 Cost summary for Job 408 4 Department Milling Assembly 70 5 Machine-hours 4 6 Direct labor-hours 5 40 7 Direct materials cost $ 270 600 $ 8 800 Direct labor cost $ 100 $