B D E $70 1 Chapter 2: Applying Excel 2 3 Data 4 Markup on job cost 75% 5 6 Department 7 Milling Assembly 8 Machine-hours 60,000 3,000 9 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 Cast summary for Job 407 Department 15 Milling Assembly 16 Machine-hours 90 4 17 Direct labor-hours 5 20 18 Direct materials $800 $370 19. Direct labor cost $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 $390,000 $500,000 26 Varinble manufacturing overhead per machine-hour or direct labor-hour $2.00 $3.75 27 Tot machine-hours or direct labor-hours 60,000 80,000 28 Total variable manufacturing overhead $120,000 $300,000 29 Total manufacturing overhead $510,000 $800,000 30 31 Step 2: Calculate the predetermined overhead rato In each department 32 Milling Assembly 33 Tot manufacturing overhead $510,000 $6,875,000 34 Total machine hours or direct labor hours 60,000 50.000 35 Prodetermined overhead rato per machine hour or direct labor hour $8.50 $13.75 36 37 step 3: Calculate the amount of overhead applied from both departments to Job 407 38 Milling Assembly 39 Predetermined overhead rato per machine-how or direct labor. hour $8.50 $10.00 40 Machine Hours or direct labor-hours for the job 41 Manufacturing overhead applied $765.00 $400,00 42 43 Step 4: Calculate the total Job cost for Job 407 44 Milling 45 Direct materials Assembly $800.00 $420,00 46 Direct labor cost $120.00 47 Manufacturing overhead apolled $680.00 $785.00 $400.00 48 Total cost of Job 407 49 50 Step 5Calculate 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 90 40 Total $1,220.00 $800.00 $1,165.00 $185.00 3.185.00 2388.75 5.572.75 2. Change the total fixed manufacturing overhead cost for the Milling Department in Data area back to $390,000, keeping all of the other data the same as in the original example. Consider a new job, Job 408, with the following characteristics: B 1 Chapter 2: Applying Excel 2 3 Cost summary for Job 408 4 5 Machine-hours 6 Direct labor-hours 7 Direct materials cost 8 Direct labor cost Department Milling Assembly 90 2 8 40 730$ 350 160 $ $ $ 760 ces 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 5.000 machine hours? (Round your final answer to 2 Required information 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 5,000 machine-hours? (Round your final answer to 2 decimal places.) Selling price for Job 408 cos 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 lobor-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.) Selling price for Job 408
