A B D E F G 75% 1 Chapter 2: Applying Excel 2 3 Data 4 Markup on job cost 5 6 7 8 Machine-hours 9 Direct labor-hours 10 Total fixed manufacturing overhead cost 11 Variable manufacturing overhead per machine-hour 12 Variable manufacturing overhead per direct labor-hour 13 14 Cost summary for Job 407 15 16 Machine-hours 17 Direct labor-hours 18 Direct materials 19 Direct labor cost Department Milling Assembly 60,000 3,000 8,000 80,000 $390,000 $500,000 $2.00 $3.75 Department Milling Assembly 90 4 5 20 $800 $370 $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 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 30 31 Step 2: Calculate the predetermined overhead rate in each department 32 Milling 33 Total manufacturing overhead 34 Total machine-hours or direct labor-hours 35 Predetermined overhead rate per machine-hour or direct labor-hour ? ? ? ? ? Assembly ? ? ? ? ? Assembly ? ? ? ? ? ? 36 ? ? ? Assembly ? ? ? Assembly Total 37 Step 3: Calculate the amount of overhead applied from both departments to Job 407 38 Milling 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 42 43 Step 4: Calculate the total job cost for Job 407 44 Milling 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 53 Selling price of Job 407 54 55 56 57 58 ? ? ? ? ? ? ? ? ro 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: A B C 1 Chapter 2: Applying Excel 2 3 Cost summary for Job 408 Department Milling Assembly 4 Machine-hours 90 2 6 Direct labor-hours 6 40 7 Direct materials cost $ 800 $ 310 8 Direct labor cost | A 114 $ 720 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 This is a numeric cell, so please enter numbers only. 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 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.)