Required information Excel Analytics 05-02 (Static) Job-Order Costing; Plantwide Predetermined Overhead Rates [LO2, LO3, LO5, LO6] [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: Direct Materials. Direct Labor ? Total Job Cost Job Applied Overhead ? Gross Margin Sales $2,400 ? $5,400 ? $9,000 $1,450 5 $2,200 6 $7,000 ? ? ? $1,700 ? $1,600 ? 2 ? $8,000 10 $4,100 ? ? ? ? 11 $3,200 ? ? ? ? ? 12 $2,800 ? ? ? ? ? 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. ? ? ? ? ? ? ? ? ? Excel Analytics 05-02 (Static) Part 3 Required: 3. Go to the tab titled "Estimated MOH.": a. For each of the seven variable manufacturing overhead expenses (highlighted in yellow), create a formula that calculates the estimated amount of the expense for this year. (Hint: Use last year's actual amount of each expense and the actual total labor hours [cell B39] as the basis for this year's estimates.) 3b. and 3c. What is the estimated indirect materials cost in the Molding Department (cell E17) and the estimated utilities cost in the Fabrication Department (cell E21)? 3-b. The estimated indirect materials cost in Molding is 3-c. The estimated utilities cost in Fabrication is 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 Total direct labor hours Plantwide predetermined overhead rate Actual Amount Cost Behavior $ 400,000 Fixed $ 300,000 Fixed $ 50,000 Fixed $ 15,000 Fixed $ 10,000 Fixed 60,000 Fixed 65,000 Fixed 58,000 Fixed 72,000 Fixed 68,000 Fixed 170,000 Fixed 93,000 Fixed 38,000 Fixed 99,000 Fixed 18,000 Variable 13,000 Variable 8,000 Variable 24,000 Variable 20,000 Variable 6,000 Variable 12,000 Fixed 24,000 Fixed 26,000 Fixed 18,000 Fixed 45,000 Fixed 13,000 Fixed 165,000 Fixed 89,000 Fixed 56,000 Fixed 48,000 Fixed 44,000 Fixed Fixed 18,000 Variable 79,000 165,000 Fixed 2,389,000 41,400 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 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 $ 12,240 $ 24,480 $ 26,520 $ 18,360 $ 51,750 $ 14,300 $ 173,250 $ 93,450 $ 58,800 $ 50,400 $ 46,200 $ 18,540 $ 173,250 $ 2,295,690 42,500 Cost Behavior Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Variable Variable Variable Variable Variable Variable Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Variable Fixed Required information Excel Analytics 05-02 (Static) Job-Order Costing; Plantwide Predetermined Overhead Rates [LO2, LO3, LO5, LO6] [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: Direct Materials. Direct Labor ? Total Job Cost Job Applied Overhead ? Gross Margin Sales $2,400 ? $5,400 ? $9,000 $1,450 5 $2,200 6 $7,000 ? ? ? $1,700 ? $1,600 ? 2 ? $8,000 10 $4,100 ? ? ? ? 11 $3,200 ? ? ? ? ? 12 $2,800 ? ? ? ? ? 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. ? ? ? ? ? ? ? ? ? Excel Analytics 05-02 (Static) Part 3 Required: 3. Go to the tab titled "Estimated MOH.": a. For each of the seven variable manufacturing overhead expenses (highlighted in yellow), create a formula that calculates the estimated amount of the expense for this year. (Hint: Use last year's actual amount of each expense and the actual total labor hours [cell B39] as the basis for this year's estimates.) 3b. and 3c. What is the estimated indirect materials cost in the Molding Department (cell E17) and the estimated utilities cost in the Fabrication Department (cell E21)? 3-b. The estimated indirect materials cost in Molding is 3-c. The estimated utilities cost in Fabrication is 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 Total direct labor hours Plantwide predetermined overhead rate Actual Amount Cost Behavior $ 400,000 Fixed $ 300,000 Fixed $ 50,000 Fixed $ 15,000 Fixed $ 10,000 Fixed 60,000 Fixed 65,000 Fixed 58,000 Fixed 72,000 Fixed 68,000 Fixed 170,000 Fixed 93,000 Fixed 38,000 Fixed 99,000 Fixed 18,000 Variable 13,000 Variable 8,000 Variable 24,000 Variable 20,000 Variable 6,000 Variable 12,000 Fixed 24,000 Fixed 26,000 Fixed 18,000 Fixed 45,000 Fixed 13,000 Fixed 165,000 Fixed 89,000 Fixed 56,000 Fixed 48,000 Fixed 44,000 Fixed Fixed 18,000 Variable 79,000 165,000 Fixed 2,389,000 41,400 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 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 $ 12,240 $ 24,480 $ 26,520 $ 18,360 $ 51,750 $ 14,300 $ 173,250 $ 93,450 $ 58,800 $ 50,400 $ 46,200 $ 18,540 $ 173,250 $ 2,295,690 42,500 Cost Behavior Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Variable Variable Variable Variable Variable Variable Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Fixed Variable Fixed