ise Saved Help Save & Exit Submit Required information The Chapter 2 Form worksheet is to be used to create your own worksheet version of the example in the text. of 2 Enter formulas in the cells that contain question marks. For example, in cell B25 enter the formula -810" After entering formulas in all of the cells that contained question marks, verify that the amounts match the example in the text 3 eBook 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. Print References 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 60,000 MHs) = $500,000 + ($3.75 per DLH * 80,000 DLHS) = $390,000+ $120,000 = $500,000+ $300,000 $510,000 = $800,000 Step 2. Calculate the predetermined overhead rate in each department. Milling Department Overhead Rate: Assembly Department Overhead Rate. $510,000 $800,000 60,000 machine-hours 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 90 MHs = $10.00 per DLH 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 (52.485 x 75%) 1,86375 Selling price of Job 407 $4,34875 Arial 2. $ % 9 678 -8 cells a. Au BIU Number Z Alignment Font ard ? B B C Chapter 2: Applying Excel 75% Data Markup on job cost Department Milling Assembly 60,000 3,000 8,000 80,000 $300,000 $500,000 $2.00 $3.75 Machine-hours Direct labor-hours Total fixed manufacturing overhead cost 1 Variable manufacturing overhead per machine-hour 2 Variable manufacturing overhead per direct labor-hour 13 14 Cost summary for Job 407 15 16 Machine-hours 17 Direct labor-hours 18 Direct materials 19 Direct labor cost Department Milling Assembly 90 4 20 $800 $1,200 $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 $300,000 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 ? Chapter 2 Form ? ? 2. Arial FC ce $ % 9 666 aste BI U HOA v IS Number 5 Clipboard Font Alignment D E $300,000 2 ? 2 ? 2 2 ? ? ? ? Assembly ? 2 ? 25 ? X A B 5 Total fixed manufacturing overhead cost 6 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 33 Total manufacturing overhead 34 Total machine hours or direct labor hours 35 Predetermined overhead rete 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 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 45 Direct materials 46 Direct labor cost 47 Manufacturing overbond applied 4B Total cost of Job 407 50 Step 6: Calculate the selling price for Job 407 51 Total cost of Job 407 52 Markup 53 Selling price of Job 407 54 55 56 57 5 Chapter 2 Form ? ? ? Assembly 2 7 2 Milling Assembly Total 2 ? 2 2 ? ? ? 2 2 2 2 2 ise Saved Help Save & Exit Submit Required information The Chapter 2 Form worksheet is to be used to create your own worksheet version of the example in the text. of 2 Enter formulas in the cells that contain question marks. For example, in cell B25 enter the formula -810" After entering formulas in all of the cells that contained question marks, verify that the amounts match the example in the text 3 eBook 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. Print References 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 60,000 MHs) = $500,000 + ($3.75 per DLH * 80,000 DLHS) = $390,000+ $120,000 = $500,000+ $300,000 $510,000 = $800,000 Step 2. Calculate the predetermined overhead rate in each department. Milling Department Overhead Rate: Assembly Department Overhead Rate. $510,000 $800,000 60,000 machine-hours 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 90 MHs = $10.00 per DLH 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 (52.485 x 75%) 1,86375 Selling price of Job 407 $4,34875 Arial 2. $ % 9 678 -8 cells a. Au BIU Number Z Alignment Font ard ? B B C Chapter 2: Applying Excel 75% Data Markup on job cost Department Milling Assembly 60,000 3,000 8,000 80,000 $300,000 $500,000 $2.00 $3.75 Machine-hours Direct labor-hours Total fixed manufacturing overhead cost 1 Variable manufacturing overhead per machine-hour 2 Variable manufacturing overhead per direct labor-hour 13 14 Cost summary for Job 407 15 16 Machine-hours 17 Direct labor-hours 18 Direct materials 19 Direct labor cost Department Milling Assembly 90 4 20 $800 $1,200 $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 $300,000 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 ? Chapter 2 Form ? ? 2. Arial FC ce $ % 9 666 aste BI U HOA v IS Number 5 Clipboard Font Alignment D E $300,000 2 ? 2 ? 2 2 ? ? ? ? Assembly ? 2 ? 25 ? X A B 5 Total fixed manufacturing overhead cost 6 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 33 Total manufacturing overhead 34 Total machine hours or direct labor hours 35 Predetermined overhead rete 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 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 45 Direct materials 46 Direct labor cost 47 Manufacturing overbond applied 4B Total cost of Job 407 50 Step 6: Calculate the selling price for Job 407 51 Total cost of Job 407 52 Markup 53 Selling price of Job 407 54 55 56 57 5 Chapter 2 Form ? ? ? Assembly 2 7 2 Milling Assembly Total 2 ? 2 2 ? ? ? 2 2 2 2 2