Download the Applying Excel form and enter formulas in all cells that contain question marks.

The Chapter 2 Form worksheet is to be used to create own worksheet version of the example in the text.

Enter formulas in the cells that contain question marks. For example, in cell B25 enter the formula "=B10".

After entering formulas in all of the cells that contained question marks, verify that the amounts match the example in the text.

Check your worksheet by changing the total fixed manufacturing overhead cost for the Milling Department in the Data area to $300,000, keeping all other data the same as in the original example. If your worksheet is operating properly, the total cost of Job 407 should now be $2,350. If you do not get this answer, find the errors in your worksheet and correct them.

You should proceed to the requirements below only after completing your worksheet.

Save your completed Applying Excel form to your computer and then upload it here by clicking "Browse." Next, click "Save." You will use this worksheet to answer the questions in Part 2.

\fE X H I B | T 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) = $500,000 + ($3.75 per DLH x 80,000 DLHs) = $390,000 + $120,000 2 $500,000 + $300,000 = $510,000 = $300,000 Step 2: Calculate the predetermined overhead rate in each department. Milling Department Overhead Rate: Assembly Department Overhead Rate: _ $510,000 _ $800,000 _ 60,000 machinevhours _ 80.000 direct labor-hours $8.50 per machine-hour $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 = $8.50 per MH x 90 MHS = $10.00 per DLH x 20 DLHs = $765 = $200 Step 4: Calculate the total job cost for Job 407. Milling Assembly Total Direct materials ............................ $800 $370 $1,170 Direct labor ................ . . . $ 70 $280 350 Manufacturing overhead applied ............ $765 $200 965 Total cost of Job 407 $2,485 Step 5: Calculate the selling price for Job 407. Total cost of Job 407 ............... $2,485.00 Markup ($2.485 x 75%) ............ 1,863.75 Selling price of Job 407 ............ $4,348.75