Chapter 3: Applying Excel Data Allocation base Estimated manufacturing overhead cost Estimated total amount of the allocation base Actual manufacturing overhead cost Actual total amount of the allocation base Machine-hours $300,000 75,000 machine-hours $290,000 68,000 machine-hours 10 Enter a formula into each of the cells marked with a ? below 12 Computation of the predetermined overhead rate 13. Estimated manufacturing overhead cost 14. Estimated total amount of the allocation base 15 Predetermined overhead rate machine-hours 2 per machine hour Computation of underapplied or overapplied manufacturing overhead dual manufacturing overhead cost Manufacturing overhead cost applied to Work in Process during the year. Pedelemined overhead rate Actual tot amount of the allocation base Manufacturing overhead applied Underen te verneplied manufacture per machine MIHI SINH 077522958/ch/154/4/4000:641 Required: 1. Check your worksheet by changing the estimated total amount of the allocation base in the Data area to 60,000 machine-hours, keeping all of the other data the same as in the original example. If your worksheet is operating properly, the predetermined overhead rate should now be $5.00 per machine-hour. If you do not get this answer, find the errors in your work- sheet and correct them. How much is the underapplied (overapplied) manufacturing overhead? Did it change? Why or why not? Determine the underapplied (overapplied) manufacturing overhead for a different company with the following data: Allocation base Estimated manufacturing overhead cost. Estimated total amount of the allocation base .. Actual manufacturing overhead cost .. Actual total amount of the allocation base Machine-hours $100,000 50,000 machine-hours $90,000 40,000 machine-hours What happens to the underapplied (overapplied) manufacturing overhead from part (2) if the estimated total amount of the allocation base is changed to 40,000 machine-hours and every- thing else remains the same? Why is the amount of underapplied Coverapplied) manufacturing overhead different from part (2)? Change the estimated total amount of the allocation base back to 50,000 machine-hours so that the data look exactly like they did in part (2). Now change the actual manufacturing overhead cost to $100,000. What is the underapplied (overapplied manufacturing overhead now? Why is the amount of underapplied overapplied manufacturing overhead dilferent from part (2)