Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

how do I do this spreadsheet in a sense of equations. Download the Applying Excel form and enter formulas in all cells that contain question

how do I do this spreadsheet in a sense of equations.

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 your 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.

image text in transcribed

Chapter 2: Applying Excel Data Markup on job cost 75% Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Department Milling Assembly 60,000 3,000 8.000 80,000 $390,000 $500,000 $2.00 $3.75 Cost summary for Job 407 Machine-hours Direct labor-hours Direct materials Direct labor cost Department Milling Assembly 90 20 $800 $370 $70 S280 Enter a formula into each of the cells marked with a ? below Assembly Step 1: Calculate the estimated total manufacturing overhead cost for each department Milling Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour or direct labor-hour Total machine hours or direct labor-hours Total variable manufacturing overhead Total manufacturing overhead Step 2: Calculate the predetermined overhead rate in each department Milling Assembly Total manufacturing overhead Total machine-hours or direct labor hours Predetermined overhead rate per machine-hour or direct labor-hour Assembly Step 3: Calculate the amount of overhead applied from both departments to Job 407 Milling Predetermined overhead rate per machine-hour or direct labor-hour Machine-hours or direct labor-hours for the job Manufacturing overhead applied Step 4: Calculate the total job cost for Job 407 Total Milling Assembly Assembly 21? Direct materials Direct labor cost Manufacturing overhead applied Total cost of Job 407 ? Step 5: Calculate the selling price for Job 407 Total cost of Job 407 Markup Selling price of Job 407

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamental Financial Accounting Concepts

Authors: Thomas P. Edmonds

11th Edition

1260786587, 9781260786583

More Books

Students also viewed these Accounting questions

Question

What are your current research studies?

Answered: 1 week ago

Question

Solve the following 1,4 3 2TT 5x- 1+ (15 x) dx 5X

Answered: 1 week ago