Required information The Excel worksheet form that appears below is to be used to recreate part of the example relating to Turt Crafters that appears earlier in the chapter. 2. Change all of the numbers in the data area of your worksheet so that it looks like this: A B 1 Chapter 3: Applying Excel 2 3 Data 4 Machine-hours 5 497,000 6 71,000 machine-hours Allocation base Estimated manufacturing overhead cost Estimated total amount of the allocation base Actual manufacturing overhead cost Actual total amount of the allocation base 7 $ 492,700 79.000 machine-hours 8 M your formulas are correct, you should get the correct answers to the following questions, ay What is the predetermined overhead rate? (Round your answer to 2 decimal places.) If your formulas are correct, you should get the correct answers to the following questions. (a) What is the Predetermined overhead rate? (Round your answe to 2 decimal places.) Predetermined overhead Fate 7.00 per machine- hour (b) By how much is the manufacturing overhead underapplied or overapplied? Underapplied manufacturing overhead 60,300 15 3. Either print or make a copy of your worksheet in your workbook before proceeding. You will need to refer back to this worksheet. Change the estimated total amount of the allocation base to 70,000 machine-hours, but keep everything the same as in Requirement 2. The data area of your worksheet should now look like this: A B Chapter 3: Applying Excel 2 3 Data 4 S Allocation base Estimated manufacturing overhead cost Estimated total amount of the allocation base Actual manufacturing overhead cost Actual total amount of the allocation base Machine-hours $ 497,000 70,000 machine-hours 6 7 $ 492,700 79,000 machine-hours 8 (a) By how much is the manufacturing overhead underapplied or overapplied? Overapplied Emanufacturing overhead Required information (a) By how much is the manufacturing overhead underapplied or overapplied? Overapplied Emanufacturing overhead (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 marlo will be automatically graded as incorrect.) The change in the estimated total amount of the allocation base affected the predetermined overhead rate. The change in the estimated total amount of the allocation base affected the amount of manufacturing overhead applied. Required information 4. Change the estimated total amount of the allocation base back to 71,000 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 $492,700 to $501,100. The data area of your worksheet should now look like this: B 1 Chapter 3: Applying Excel 2 3 4 5 Data Allocation base Estimated manufacturing overhead cost Estimated total amount of the allocation base Actual manufacturing overhead cost Actual total amount of the allocation base 6 Machine-hours $ 497,000 71.000 machine-hours $ 501,100 79,000 machine-hours 7 8 (a) By how much is the manufacturing overhead underapplied or overapplied? Underapplied Emanufacturing overhead
