Dawnlaad the Applying Excel form and cnter formulas in all cells that contain question marks. The Chapter 2 Form workshoct is to be uscd to create vour awn wprkshpct version pf the examole in the text. Enter formulas in the cells that cantain qucstion marks, Far cxampie, in cel B25 cnter the formula -B10 After ontering formulas in a Iof the colls that contained qucstion marks, verify that the amounts match the axample in the toxt $300,000, kepping all other data the same as in the priginal examplc, If vour worksheet is oocrating prppcrly, the total cast of Jpb 407 shauld Check your workshect by changing the total fixed manufacturing overhead cast for the Milling Department in the Data area tget this answer, find the errors $2.350. If you co your worksheet and correct them. now You should proceed to the requirements below only after completing your worksheet. EXHIBIT 2-5 Dickson Company: An Example Using Multiple Predetermined Overhead Rates Step 1: Calculate the estimated total manufacturing overhead cost for each department. Milling Department Overhead Cost (Y): Assembly Department Overhead Cost (Y): =$390,000+ ($2.00 per MH x 60,000 MHs) = $390,000 + $120,000 = $510,000 = $500,000+ ($3.75 per DLH x 80,000 DLHS) = $500,000 + $300,000 = $800,000 Step 2: Calculate the predetermined overhead rate in each department Assembly Department Overhead Rate Milling Department Overhead Rate: $510,000 60,000 machine-hours $8.50 per machine-hour $800,000 80,000 direct labor-hours $10.00 per direct labor-hour - Step 3: Calculate the amount of overhead applied from both departments to Job 407. Milling Department: Overhead Applied to Job 407 Assembly Department: Overhead Applied to Job 407 =$10.00 per DLH x 20 DLHS = $200 = $8.50 per MH x 90 MHs = $765 Step 4: Calculate the total job cost for Job 407 Milling $800 $ 70 Assembly $370 Total $1,170 Direct materials Direct labor $280 350 Manufacturing overhead applied $765 $200 965 Total cost of Job 407 $2,485 Step 5: Calculate the selling price for Job 407. $2,485.00 1,863.75 Total cost of Job 407 Markup ($2,485 x 75%) $4.348.75 Selling price of Job 407 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 Department Cost summary for Job 408 3 Milling Assembly 4 5 Machine-hours 80 2 Direct labor-hours 9 20 7 Direct materials cost 8 Direct labor cost $ 710 $ 144 390 $ 380 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.) Selling price for Job 408 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 5,000 machine-hours? (Round your final answer to 2 decimal places.) 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.) olling ** Selling price for Job 408 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: C A B 1 Chapter 2: Applying Excel 2 3 Cost summary for Job 408 Department Assembly Milling 4 5 Machine-hours 6 Direct labor-hours 7 Direct materials cost Direct labor cost 70 2 20 820 $ 171 $ 230 S 360 8 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.) Selling price for Job 408 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 6,000 machine-hours? (Round your final answer to 2 decimal places.) 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.) Selling price for Job 408