Required: 4. Within the Estimated MOH tab, a. Create a formula in cell E40 that calculates a plantwide predetermined overhead rate this year. b. What is the plantwide predetermined overhead rate for this year? X Answer is complete but not entirely correct. The plantwide predetermined overhead rate is $ 54.02 X Required information [The following information applies to the questions displayed below.] Ozuna Company uses a job-order costing system with a plantwide predetermined overhead rate based on direct labor-hours. For job costing purposes, it uses an average direct labor wage rate of $20 per hour. The company has been struggling financially; accordingly, it has asked you to conduct a job profitability study beginning with a thorough critique of its existing cost system. To keep the scope of your project manageable, you have chosen a subset of 12 jobs from the many jobs completed by the company during the year. Your goal is to complete the table shown below and comment on the insights that it provides: Job 1 2 3 4 Applied Overhead ? ? ? ? 5 6 7 Sales $2,400 $5,400 $9,000 $1,450 $2,200 $7,000 $1,700 $1,600 $8,000 $4,100 $3,200 $2,800 Direct Materials ? ? ? ? ? ? ? ? ? ? ? ? Direct Labor ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Total Job Cost ? ? ? ? ? ? ? ? ? ? ? ? Gross Margin ? ? ? ? ? ? ? ? ? ? ? ? 8 9 10 11 12 ? ? ? Click here to download the Excel template, which you will use to answer the questions that follow. Click here for a brief tutorial on PivotTables in Excel. Click here for a brief tutorial on VLOOKUP in Excel. Last Year This Year Cost Behavior Fixed Fixed Cost Behavior Fixed Fixed Estimated Amount $ 400,000 $ 300,000 $ 50,000 $ 15,000 $ 10,000 $ 63,000 $ 68,250 $ 60,900 $ 75,600 $ 71,400 $ 178,500 $ 97,650 $ 39,900 $ 103,950 Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Account Equipment depreciation: Molding Equipment depreciation: Fabrication Equipment depreciation: Assembly Equipment depreciation: Materials Handling Equipment depreciation: Other Production suprvision: Molding Production supervision: Fabrication Production supervision: Assembly Indirect labor: Maintenance & Repairs Indirect labor: Materials Handling Indirect labor: Engineering Indirect labor: Raw Materials Purchasing Indirect labor: Quality Control Indirect labor: Packaging & Shipping Indirect materials: Molding Indirect materials: Fabrication Indirect materials: Assembly Utilities: Molding Utilities: Fabrication Utilities: Assembly Utiltiies: Plant lighting and other equipment Utilities: Heating and cooling Property insurance Liability insurance Medical insurance Workers' compensation insurance Other salaries: Plant manager Other salaries: Accounting Other salaries: Administrative support Other salaries: Janitorial Other salaries: Security and grounds maintenance Property taxes Payroll taxes: Direct labor Payroll taxes: Other Total Manufacturing Overhead Actual Amount $ 400,000 $ 300,000 $ 50,000 $ 15,000 $ 10,000 $ 60,000 $ 65,000 $ 58,000 $ 72,000 $ 68,000 $ 170,000 $ 93,000 $ 38,000 $ 99,000 $ 18,000 $ 13,000 $ 8,000 $ 24,000 $ 20,000 $ 6,000 $ 12,000 $ 24,000 $ 26,000 $ 18,000 $ 45,000 $ 13,000 $ 165,000 $ 89,000 $ 56,000 $ 48,000 $ 44,000 $ 18,000 $ 79,000 $ 165,000 $ 2,389,000 Fixed Variable Variable Variable Variable Variable Variable Fixed Fixed Fixed Fixed Variable Variable Variable Variable Variable Variable Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Variable Fixed $ $ $ $ $ Fixed 12,240 24,480 26,520 18,360 51,750 14,300 173,250 93,450 58,800 50,400 46,200 18,540 Fixed Fixed $ $ $ $ $ $ Fixed Fixed Fixed Fixed Fixed Variable Fixed $ $ 173,250 $ 2,295,690 41,400 42,500 Total direct labor hours Plantwide predetermined overhead rate
