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Chapter 2: Applying Excel Data Markup on job cost 75% Department Milling Assembly Machine-hours 60,000 3,000 Direct labor-hours 8,000 80,000 Total fixed manufacturing overhead cost
Chapter 2: Applying Excel | ||||
Data | ||||
Markup on job cost | 75% | |||
Department | ||||
Milling | Assembly | |||
Machine-hours | 60,000 | 3,000 | ||
Direct labor-hours | 8,000 | 80,000 | ||
Total fixed manufacturing overhead cost | $390,000 | $500,000 | ||
Variable manufacturing overhead per machine-hour | $2.00 | |||
Variable manufacturing overhead per direct labor-hour | $3.75 | |||
Cost summary for Job 407 | Department | |||
Milling | Assembly | |||
Machine-hours | 90 | 4 | ||
Direct labor-hours | 5 | 20 | ||
Direct materials | $800 | $370 | ||
Direct labor cost | $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 | ||||
Milling | Assembly | |||
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 | ? | ? | ||
Step 2: Calculate the predetermined overhead rate in each department | ||||
Milling | Assembly | |||
Total manufacturing overhead | ? | ? | ||
Total machine-hours or direct labor-hours | ? | ? | ||
Predetermined overhead rate per machine-hour or direct labor-hour | ? | ? | ||
Step 3: Calculate the amount of overhead applied from both departments to Job 407 | ||||
Milling | Assembly | |||
Predetermined overhead rate per machine-hour or direct labor-hour | ? | ? | ||
Machine-hours or direct labor-hours for the job | ? | ? | ||
Manufacturing overhead applied | ? | ? | ||
Step 4: Calculate the total job cost for Job 407 | ||||
Milling | Assembly | Total | ||
Direct 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 | ? |
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