Complete with the excel forumlas

J16 Paste fx B D E F 1 Chapter 3: 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 over head per machine-hour $2.00 12 Variable manufacturing overhead per direct labor-hour $3.75 13 14 Cost 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 $70 $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 ? ? 26 Variable manufacturing overhead per machine-hour or direct labor-hour ? ? 27 Total machine-hours or direct labor-hours ? ? 28 Total variable manufacturing overhead ? ? 29 Total manufacturing overhead ? ? 30 31 Step 2: Calculate the predetermined overhead rate in each department 32 Milling Assembly 33 Total manufacturing overhead ? ? 34 Total machine-hours or direct labor-hours ? ? 35 Predetermined overhead rate per machine-hour or direct labor-hour ? ? 36 37 Step 3: Calculate the amount of overhead applied from both departments to Job 407 38 Milling Assembly 39 Predetermined overhead rate per machine-hour or direct labor-hour ? ? 40 Machine-hours or direct labor-hours for the job - ? ? 41 Manufacturing overhead applied ? ? 42 43 Step 4: Calculate the total job cost for Job 407 44 Milling Assembly 45 Direct materials ? ? ? ? 46 Direct labor cost ? ? ? 47 Manufacturing overhead applied ? ? ? 48 Total cost of Job 407 ? 49 50 Step 5: Calculate the selling price for Job 407 51 Total cost of Job 407 ? 52 Markup ? 53 Selling price of Job 407 ? 54 55 56 Total