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1 Required information The Excel worksheet form that appears below is to be used to recreate part of the example relating to Turbo Crafters that appears earlier in the chapter. Part 1 of 2 Download the Applying Excel form and enter formulas in all cells that contain question marks. 90 points For example, in cell B13 enter the formula "=B5". After entering formulas in all of the cells that contained question marks, verify that the dollar amounts match the example in the text. eBook Print Check your worksheet by changing the estimated total amount of the allocation base in the Data area to 50,000 machine-hours, keeping all of the other data the same as in the original example. If your worksheet is operating properly, the predetermined overhead rate should now be $6.00 per machine-hour. If you do not get this answer, find the errors in your worksheet and correct them. References 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 Part 2 Chapter_3_Applying_Excel_Student_Form - Excel A Jarek Napier-Hancock o File Home Insert Page Layout Formulas Data Review View Help Tell me what you want to do Share X If AutoSum Arial - 10 ab Wrap Text General AY O A Fill Paste BI U E E Conditional Format as Cell $ %, Merge & Center 4.0 .00 .00 0 Insert Delete Format Formatting Table Styles Clear Sort & Find & Filter Select Clipboard Font Alignment Number Styles Cells Editing A1 X fac Chapter 3: Applying Excel B D E F G H 1 J K L M A Chapter 3: Applying Excel 2 3 Data 4 Allocation base 5 Estimated manufacturing overhead cost 6 Estimated total amount of the allocation base 7 Actual manufacturing overhead cost 8 Actual total amount of the allocation base Machine-hours $300,000 75,000 machine-hours $290,000 68,000 machine-hours 9 10 Enter a formula into each of the cells marked with a ? below ? ? machine-hours ? per machine-hour 11 12 Computation of the predetermined overhead rate 13 Estimated manufacturing overhead cost 14 Estimated total amount of the allocation base 15 Predetermined overhead rate 16 17 Computation of underapplied or overapplied manufacturing overhead 18 Actual manufacturing overhead cost 19 Manufacturing overhead cost applied to Work in Process during the year: 20 Predetermined overhead rate 21 Actual total amount of the allocation base 22 Manufacturing overhead applied 23 Underapplied (overapplied) manufacturing overhead 24 ? ? per machine-hour ? machine-hours ? ? 25 26 27 Chapter 3 Form (+ Ready & Sian in Required 1 + 1009 Check 2 Required information Part 2 of 2 The Excel worksheet form that appears below is to be used to recreate part of the example relating to Turbo Crafters that appears earlier in the chapter. 10 points 2. Change all of the numbers in the data area of your worksheet so that it looks like this: eBook A B 1 Chapter 3: Applying Excel Print 2 References 3 Data 4 Allocation base Machine-hours 5 $ 280,800 6 Estimated manufacturing overhead cost Estimated total amount of the allocation base Actual manufacturing overhead cost 54,000 machine-hours 7 $ 283,200 8 Actual total amount of the allocation base 57,000 machine-hours 2 Required information If your formulas are correct, you should get the correct answers to the following questions. Part 2 of 2 (a) What is the Predetermined overhead rate? (Round your answer to 2 decimal places.) Predetermined overhead rate 10 points per machine-hour eBook Print References (b) By how much is the manufacturing overhead underapplied or overapplied? manufacturing overhead Check i 2. Required information 3. Either print or make a copy of your worksheet in your workbook before proceeding. You will need to refer back to this worksheet. Part 2 of 2 Per 2012 Change the estimated total amount of the allocation base to 52,000 machine-hours, but keep everything the same as in Requirement 2. The data area of your worksheet should now look like this: 10 points A B 1 Chapter 3: Applying Excel eBook 2 3 Data Print 4 Allocation base Machine-hours References 5 $ 280.800 6 Estimated manufacturing overhead cost Estimated total amount of the allocation base Actual manufacturing overhead cost 52,000 machine-hours 7 $ 283,200 8 Actual total amount of the allocation base 57,000 machine-hours 1 207 anni 2 Required information Part 2 of 2 10 (a) By how much is the manufacturing overhead underapplied or overapplied? points manufacturing overhead eBook Print References Check my wc 2 Required information Pan 2012 Part 2 of 2 10 points (b) Why is the amount of underapplied (overapplied) manufacturing overhead different from Requirement 2 above? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answers and double click the box with the question mark to empty the box for a wrong answers. Any boxes left with a question mark will be automatically graded as incorrect.) eBook Print 2 The change in the estimated total amount of the allocation base affected the predetermined overhead rate. References ? The change in the estimated total amount of the allocation base affected the amount of manufacturing overhead applied. 2 Actual manufacturing overhead cost differs from period to period. ? The estimated manufacturing overhead cost did not change in proportion to the change in the estimated total amount of the allocation base. Chec 2 Required information Part 2 of 2 Par 2012 4. Change the estimated total amount of the allocation base back to 54,000 machine-hours, so that the data area of you worksheet looks exactly the same as in Requirement 2. Now change the actual manufacturing overhead cost from $283,200 to $277,000. The data area of your worksheet should now look like this: 10 A B points 1 Chapter 3: Applying Excel 2 eBook 3 Data 4 Allocation base Machine-hours Print 5 $ 280.800 References 6 54,000 machine-hours Estimated manufacturing overhead cost Estimated total amount of the allocation base Actual manufacturing overhead cost Actual total amount of the allocation base 7 $ 277,000 8 57,000 machine-hours 2 Required information Part 2 of 2 (a) By how much is the manufacturing overhead underapplied or overapplied? manufacturing overhead 0 points eBook Print References 2 Required information Part 2 of 2 par 2012 10 points (b) Why is the amount of underapplied (overapplied) manufacturing overhead different from Requirement 2 above? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answers and double click the box with the question mark to empty the box for a wrong answers. Any boxes left with a question mark will be automatically graded as incorrect.) eBook Print References The predetermined overhead rate changed. 53 The change in the actual manufacturing overhead cost directly resulted in a comparable change in the amount of underapplied (overapplied) manufacturing overhead. The change in the estimated total amount of the allocation base affected the amount of manufacturing overhead applied