Chapter 2: Applying Excel Data Markup on job cost 75% Degartment Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable manulacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour 53.75 Cost summary for Job 407 Machine-hours Direct Labor-hours Direct materials Direct labor cost Enter a formula into each of the cells marked with a? bolow Step 1: Calculate the estimated total manulacturing overhead cost for each department Total foxed manufacturing overhead cost Variable manulacturing overhead per machine-hour or direct labor-hour Total machine-hours or direct labor-hours Total variable manulacturing overhead Total manufacturing overhead \begin{tabular}{|r|r|} \hline \multicolumn{1}{|c|}{ Milling } & \multicolumn{1}{|c|}{ Assembly } \\ \hline$390,000 & $500,000 \\ \hline$2,00 & $3.75 \\ \hline 60,000 & 80,000 \\ \hline$120,000 & $300,000 \\ \hline$510,000 & $800,000 \\ \hline \hline \end{tabular} Step 2: Calculate the predetermined overhead rate In each department Tolal manufacturing overhead Total machine-hours or direct labor-hours Predetermined overhead rate per machine-hour or direct labor-hour Miling Assembly $510,000 $800,000 60,000 80,000 58.50 $10.00 Step 3: Calculate the amount of overhead applied from both departments to Job 407 Predetemined overhead rate per machine-hour or direct labor-hour Machine-hours or direct labor-hours for the job Manufacturing overhead applied Miling 58,50 90 $765.00 Step 4: Calculate the total job cost for Job 407 Duect materials Direct labor cost Manufacturing overhead applied Total cost of Job 407 Step 5: Calculate the selling price for Job 407 Total cost of Job 407 Markup Selling price of Job 407 Chapter 2: Applying Excel: Exercise (Part 2 of 2) 2. Change the total fixed manufacturing overhead cost for the Miling Department in Data area back to $390,000, keeping all of the other data the same as in the orlginal example. Consider a new job, Job 406 , 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 machine-hours in the Assembly Departnent increases from 3,000 machine-hours to 5.000 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 50,000 direct labor-hours? (Round your final answer to 2 decimal places.)
