Chapter 2: Applying Excel Data Markup on job cost Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour 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 ? below Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour or direct labor-ho Total machine-hours or direct labor-hours Total variable manufacturing overhead Total manufacturing overhead Step 2: Calculate the predetermined overhead rate in each department Total manufacturing overhead Total machine-hours or direct labor-hours Predetermined overhead rate per machine-hour or direct labor-hour 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 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 75% Markup Selling price of Job 407 Department ? ? ? Milling 60,000 8,000 $390,000 $2.00 Milling Department Step 1: Calculate the estimated total manufacturing overhead cost for each department Milling Assembly $800 $70 90 5 Milling Milling ? ? ? ? ? Step 3: Calculate the amount of overhead applied from both departments to Job 407 Milling ? ? ? Assembly ? ? ? 3,000 80,000 $500,000 ? ? ? $3.75 Assembly 20 $370 $280 Assembly Assembly 4 Assembly ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Total 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 1 Chapter 2: Applying Excel 2 3 Cost summary for Job 408 4 Machine-hours 6 Direct labor-hours 7 8 Direct labor cost 5 Direct materials cost $ $ Answer is complete but not entirely correct. $ 3,904.25 X Selling price for Job 408 B Department Milling Assembly 50 6 660 $ 96 $ 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.) 4 40 490 800 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 4,000 machine-hours? (Round your final answer to 2 decimal places.) Answer is complete but not entirely correct. $ 3,904.25X 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 50,000 direct labor-hours? (Round your final answer to 2 decimal places.) > Answer is complete but not entirely correct. Selling price for Job 408 $ 4,166.75 X