A B D Chapter 2: Applying Excel Data Markup on job cost 75% Department Milling Assembly 8 Machine-hours 60,000 3,000 Direct labor-hours 8.000 80,000 10 Total fixed manufacturing overhead cost $390,000 $500,000 11 Variable manufacturing overhead per machine-hour $2.00 12 Variable manufacturing overhead per direct labor-hour $3.75 13 14 Cost summary for Job 407 Department 15 Milling Assembly 16 Machine-hours 90 17 Direct labor-hours 5 20 18 Direct materials $800 $370 19 Direct labor cost $70 $280 20 21 Enter a formula into each of the cells marked with a ? below 22 23 Step 1: Calculate the estimated total manufacturing overhead cost for each department 24 Milling Assembly 25 Total fixed manufacturing overhead cost 26 Variable manufacturing overhead per machine-hour or direct labor-hour 27 Total machine-hours or direct labor-hours 28 Total variable manufacturing overhead 29 Total manufacturing overhead 31 Step 2: Calculate the predetermined overhead rate in each department 32 Milling Assembly 33 Total manufacturing overhead 34 Total machine-hours or direct labor-hours 35 Predetermined overhead rate per machine-hour or direct labor-hour 36 37 Step 3: Calculate the amount of overhead applied from both departments to Job 407 38 Milling Assembly 39 Predetermined overhead rate per machine-hour or direct labor-hour 40 Machine-hours or direct labor-hours for the job 41 Manufacturing overhead applied Step 4: Calculate the total job cost for Job 407 44 Milling Assembly Total 45 Direct materials 46 Direct labor cost 47 Manufacturing overhead applied 48 Total cost of Job 407 49 50 Step 5: Calculate the selling price for Job 407 51 Total cost of Job 407 52 Markup