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Hello, I need some help figuring out these last two questions for this excel assignment for accounting. Please show what steps are needed to get
Hello, I need some help figuring out these last two questions for this excel assignment for accounting. Please show what steps are needed to get to the answer because I would like to have it for future reference. Thank you! Also, I already went ahead and changed the values for Question 2 where it asks to change the values in the excel sheet. I am stuck on the questions after those (the questions I am stuck on are questions 3 and 4 which I have attached images of at the end).
Chapter 2: Applying Excel Data Markup on job cost 75% Department Enter a formula into each of the cells marked with a ? below Step 1: Calculate the estimated total manufacturing overhead cost for each department \begin{tabular}{l|r|r|} & Milling & \multicolumn{1}{c|}{ Assembly } \\ \hline Total fixed manufacturing overhead cost & $390,000 & $500,000 \\ \hline Variable manufacturing overhead per machine-hour or direct labor-hour & $2.00 & $3.75 \\ \hline Total machine-hours or direct labor-hours & 60,000 & 80,000 \\ \hline Total variable manufacturing overhead & $120,000 & $300,000 \\ \hline Total manufacturing overhead & $510,000 & $800,000 \\ \hline \end{tabular} Step 2: Calculate the predetermined overhead rate in each department \begin{tabular}{l|r|r} & \multicolumn{1}{c}{ Milling } & \multicolumn{1}{c}{ Assembly } \\ \hline Total manufacturing overhead & $510,000 & $800,000 \\ \hline Total machine-hours or direct labor-hours & 60,000 & 80,000 \\ \hline Predetermined overhead rate per machine-hour or direct labor-hour & $8.50 & $10.00 \\ \hline \end{tabular} Step 3: Calculate the amount of overhead applied from both departments to Job 407 \begin{tabular}{l|r|r} & \multicolumn{1}{r|}{ Milling } & \multicolumn{1}{c}{ Assembly } \\ \hline Predetermined overhead rate per machine-hour or direct labor-hour & $8.50 & $10.00 \\ \hline Machine-hours or direct labor-hours for the job & 80 & 20 \\ \hline Manufacturing overhead applied & $680.00 & $200.00 \\ \hline \end{tabular} Step 4: Calculate the total job cost for Job 407 \begin{tabular}{l|r|r|r|} & Milling & Assembly & \multicolumn{1}{|c|}{ Total } \\ \hline Direct materials & $890.00 & $230.00 & $1,120.00 \\ \hline Direct labor cost & $100.00 & $360.00 & $460.00 \\ \hline Manufacturing overhead applied & $680.00 & $200.00 & $880.00 \\ \hline Total cost of Job 407 & $2,460.00 \\ \hline \hline \end{tabular} Step 5: Calculate the selling price for Job 407 Total cost of Job 407 Markup Selling price of Job 407 2,460.001,845.004,305.00 2. Change the total fixed manufacturing overhead cost for the Milling Department in Data area back to $390,000, keeping other data the same as in the original example. Consider a new job, Job 408 , with the following characteristics: 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 machinehours in the Assembly Department increases from 3,000 machine-hours to 4,000 machine-hours? (Round your final answer to 2 decimal places.) 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 40,000 direct labor-hours? (Round your final answer to 2 decimal places.)
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