! Required information (The following information applies to the questions displayed below.) Cary Company manufactures two models of industrial components--a Standard model and an Advanced Model. It has provided the following information with respect to these two products: Standard Advanced Number of units produced and Bold 20,000 10,000 Selling price per unit $ 150 $ 200 Direct materials per unit $ 40 $ 60 Direct labor cost per unit $ 30 Direct labor-hours per unit 1.50 1.50 The company considers all of its manufacturing overhead costs ($1,346,250) to be fixed and it uses plantwide manufacturing overhead cost allocation based on direct labor-hours. Click here to download the Excel template, which you will use to answer the questions that follow. Click here for a brief tutorial on Charts in Excel. $ 30 Required: 1. Go to the tab titled "Plantwide Approach" a. Create a formula that calculates the direct labor-hours in the denominator of the plantwide overhead rate (cell F3). Also, create a formula that calculates the plantwide overhead rate (cell F4). What formulas correctly calculate these two amounts? b. What is the plantwide overhead rate? c. Create the appropriate formulas (within cells 811 through 017) to compute the gross margins for the Standard and Advanced models as well as the company as a whole (Hint Each product's gross margin equals its sales minus its direct materials, direct labor, and manufacturing overhead costs). What formulas correctly calculate the direct materials, direct labor, and manufacturing overhead for the Standard model? d. What are the gross margins for the Standard model (cell 817) and the Advanced model (cell C17? e. Using Microsoft Excel's Charts feature, create a ple chart that shows the percent of total manufacturing overhead cost allocated to each product using the plantwide approach what percent of the total manufacturing overhead cost is allocated to the Standard Required: 1. Go to the tab titled "Plantwide Approach:" a. Create a formula that calculates the direct labor-hours in the denominator of the plantwide overhead rate (cell F3). Also, create a formula that calculates the plantwide overhead rate (cell F4). What formulas correctly calculate these two amounts? b. What is the plantwide overhead rate? c. Create the appropriate formulas (within cells B11 through D17) to compute the gross margins for the Standard and Advanced models as well as the company as a whole (Hint: Each product's gross margin equals its sales minus its direct materials, direct labor, and manufacturing overhead costs). What formulas correctly calculate the direct materials, direct labor, and manufacturing overhead for the Standard model? d. What are the gross margins for the Standard model (cell B17) and the Advanced model (cell C171? e. Using Microsoft Excel's Charts feature, create a ple chart that shows the percent of total manufacturing overhead cost allocated to each product using the plantwide approach. What percent of the total manufacturing overhead cost is allocated to the Standard model using the plantwide approach? The Advanced model? Complete this question by entering your answers in the tabs below. Reg 11 Reg 10 Reg 10 Reg 10 Reg 16 Create a formula that calculates the direct labor-hours in the denominator of the plantwide overhead rate (cell F3). Also, create a formula that calculates the plantwide overhead rate (cell F4), What formulas correctly calculate these two amounts? Direct Plantwide overhead labor-hours rate -(8387)+(C3C7) F2/F3 =(B3*87)(03-07) =F2F3 =(B3*877(03-07) -F2 F3 *(83/877(03/07) -F2-F3 Reg 1A Req 18 > Required: 1. Go to the tab titled "Plantwide Approach" a. Create a formula that calculates the direct labor-hours in the denominator of the plantwide overhead rate (cell F3). Also, create a formula that calculates the plantwide overhead rate (cell F4). What formulas correctly calculate these two amounts? b. What is the plantwide overhead rate? c. Create the appropriate formulas (within cells B11 through 017) to compute the gross margins for the Standard and Advanced models as well as the company as a whole (Hint: Each product's gross margin equals its sales minus its direct materials, direct labor, and manufacturing overhead costs). What formulas correctly calculate the direct materials, direct labor, and manufacturing overhead for the Standard model? d. What are the gross margins for the Standard model (cell B17) and the Advanced model (cell C17)? e. Using Microsoft Excel's Charts feature, create a ple chart that shows the percent of total manufacturing overhead cost allocated to each product using the plantwide approach. What percent of the total manufacturing overhead cost is allocated to the Standard model using the plantwide approach? The Advanced model? Complete this question by entering your answers in the tabs below. Reg 1B Reg 1C Reg 10 Reg 1A Reg 1E What is the plantwide overhead rate? (Round your answer to 2 decimal places.) Plantwide overhead rate per direct labor-hour Required: 1. Go to the tab titled "Plantwide Approach." a. Create a formula that calculates the direct labor-hours in the denominator of the plantwide overhead rate (cell F3). Also, create a formula that calculates the plantwide overhead rate (cell F4), What formulas correctly calculate these two amounts? b. What is the plantwide overhead rate? c. Create the appropriate formulas (within cells B11 through 017) to compute the gross margins for the Standard and Advanced models as well as the company as a whole (Hint: Each product's gross margin equals its sales minus its direct materials, direct labor, and manufacturing overhead costs). What formulas correctly calculate the direct materials, direct labor, and manufacturing overhead for the Standard model? d. What are the gross margins for the Standard model (cell B17) and the Advanced model (cell C17)? e. Using Microsoft Excel's Charts feature, create a ple chart that shows the percent of total manufacturing overhead cost allocated to each product using the plantwide approach. What percent of the total manufacturing overhead cost is allocated to the Standard model using the plantwide approach? The Advanced model? Complete this question by entering your answers in the tabs below. Reg 1E Reg 1A Reg 18 Req 1C Reg 1D Create the appropriate formulas (within cells B11 through D17) to compute the gross margins for the Standard and Advanced models as well as the company as a whole. What formulas correctly calculate the direct materials, direct labor, and manufacturing overhead for the Standard model? Direct materials Manufacturing Direct labor overhead =B3 B5 =B3-B6 -B3-B7F4 =B3-B5 =B3-B6 -B3-B7F4 83B5 =B3'86 -B39B7F4 =B3/B5 33/36 =B3/87"F4 oooo Required: 1. Go to the tab titled "Plantwide Approach" a. Create a formula that calculates the direct labor-hours in the denominator of the plantwide overhead rate (cell F3). Also, create a formula that calculates the plantwide overhead rate (cell F4). What formulas correctly calculate these two amounts? b. What is the plantwide overhead rate? c. Create the appropriate formulas (within cells B11 through D17) to compute the gross margins for the Standard and Advanced models as well as the company as a whole (Hint: Each product's gross margin equals its sales minus its direct materials, direct labor, and manufacturing overhead costs) What formulas correctly calculate the direct materials, direct labor, and manufacturing overhead for the Standard model? d. What are the gross margins for the Standard model (cell B17) and the Advanced model (cell C17)? e. Using Microsoft Excel's Charts feature, create a ple chart that shows the percent of total manufacturing overhead cost allocated to each product using the plantwide approach what percent of the total manufacturing overhead cost is allocated to the Standard model using the plantwide approach? The Advanced model? Complete this question by entering your answers in the tabs below. Reg 1A Reg 18 Req 1C Req 10 RealE What are the gross margins for the Standard model (cell 817) and the Advanced model (cell C17)? Standard Model Gross margin Advanced Model Required: 1. Go to the tab titled "Plantwide Approach: a. Create a formula that calculates the direct labor-hours in the denominator of the plontwide overhead rate (cell F3). Also, create o formula that calculates the plantwide overhead rate (cell F4). What formulas correctly calculate these two amounts? b. What is the plantwide overhead rate? c. Create the appropriate formulas (within cells B11 through D17) to compute the gross margins for the Standard and Advanced models as well as the company as a whole (Hint Each product's gross margin equals its sales minus its direct materials, direct labor and manufacturing overhead costs) What formules correctly calculate the direct materials, direct labor, and manufacturing overhead for the Standard model? d. What are the gross margins for the Standard model (cell B17) and the Advanced model (cell C17)? e. Using Microsoft Excel's Charts feature, create a ple chart that shows the percent of total manufacturing overhead cost allocated to each product using the plantwide approach. What percent of the total manufacturing overhead cost is allocated to the Standard model using the plontwide approach? The Advanced model? Complete this question by entering your answers in the tabs below. Rea 1 Reg 10 Req1c Req ID Reg 16 What percent of the total manufacturing overhead cost is allocated to the Standard model using the plantwide approach? The Advanced model? Percent of total overhead cost allocated Standard model Advanced model