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. Download the Applying Excel form and enter formulas in all cells that contain question marks. 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. 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. 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. download reference file upload a response file (15MB max) Choose File No file chosen Chapter_3_Applying_Excel_Student_Form.xlsx save A1 XVfx Chapter 3: Applying Excel B D E F G H L M NO P R 5 Nechtingshoun S300.000 75,000 machine hours S290,000 88.000 ingenieurs ? 2 machine hours per machine-hour 7 ? permachine-hour ? machine hours 7 A 1 Chapter 3: Applying Excel 2 3 Data 4 Alucation base S Estimated manufacturing overhead cost E Estimated total amount of the alocation base 7 Actual manufacturing over and cost 8 Actual total amount of the location base 9 10 Endore tomuto cach or the co's maded with a 7 blow 11 12 Computation of the predetermined overhead rate 13 Estimated manufacturing overhead weet 14 Estimated total amount of the alocation base 15 Predatened overhead rata 16 17 Computation of underapplied or overapplied manufacturing overhead Actual manufacturing overhead cost 19 Manufacturing owerhead coat Aplied to Viark in Process during the year. 20 Predelemined warhead role 22 Actual total amount of the allocation base 22 Manufacturing averead appled 23 underpalied foverapplied manufacturing ourhead 24 25 26 27 22 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 44 49 50 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. 2. Change all of the numbers in the data area of your worksheet so that it looks like this: B A 1 Chapter 3: Applying Excel 2 3 Data 4 Allocation base 5 Estimated manufacturing overhead cost Estimated total amount of the allocation base 6 Actual manufacturing overhead cost 7 Actual total amount of the allocation base 8 Machine-hours $ 496,400 68,000 machine-hours $ $ 504,400 75,000 machine-hours If your formulas are correct, you should get the correct answers to the following questions. (a) What is the Predetermined overhead rate? (Round your answer to 2 decimal places.) Predetermined overhead rate per machine-hour (b) By how much is the manufacturing overhead underapplied or overapplied? manufacturing overhead 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 73,000 machine-hours, but keep everything the same as in Requirement 2. The data area of your worksheet should now look like this: B A 1 Chapter 3: Applying Excel 2 3 Data Allocation base 4 Estimated manufacturing overhead cost 5 Estimated total amount of the allocation base 6 Actual manufacturing overhead cost 7 Actual total amount of the allocation base 8 Machine-hours $ 496,400 73,000 machine-hours $ 504,400 75,000 machine-hours (a) By how much is the manufacturing overhead underapplied or overapplied? manufacturing 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 mark will be automatically graded as incorrect.) 2 The change in the estimated total amount of the allocation base affected the predetermined overhead rate. 2 The change in the estimated total amount of the allocation base affected the amount of manufacturing overhead applied. Actual manufacturing overhead cost differs from period to period. 7 The estimated manufacturing overhead cost did not change in proportion to the change in the estimated total amount of the allocation base 4. Change the estimated total amount of the allocation base back to 68,000 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 $504,400 to $500,500. The data area of your worksheet should now look like this: A B 1 Chapter 3: Applying Excel 2 3 Data Allocation base Machine-hours 4 $ 496.400 5 68,000 machine-hours 6 Estimated manufacturing overhead cost Estimated total amount of the allocation base Actual manufacturing overhead cost Actual total amount of the allocation base $ 7 500,500 75,000 machine-hours 8 (a) By how much is the manufacturing overhead underapplied or overapplied? manufacturing 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 mark will be automatically graded as incorrect.) The predetermined overhead rate changed. 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