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: 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 a brief tutorial on Charts in Excel Required: 1. Go to the tab titied "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 F ). 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, 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 Charts, create a pie chart that shows the percent of total manufacturing overhead cost allocated to each product using the plantwide approach. (Your instructor may require you to upioad this file in Part 6). f. What percent of the total manufacturing overhead cost is allocated to the Standard model using the plantwide approach? The Advanced model? he production manager also provided the following additional information with respect to the company's two products: Complete this question by entering your answers in the tabs below. 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 correctiy calculate these two amounts? The production manager also provided the following additional information with respect to the company's two products; Complete this question by entering your answers in the tabs below. What is the plantwide overhead rate? (Round your answer to 2 decimal places.) The production manager also provided the following odditional information with respect to the company's two products: Complete this question by entering your answers in the tabs below. Create the approgriate formulas (within cells B11 through D17) to compute the gross margins for the Standard and Advanced modeis as well as the company as a whole. What formulas correctly calculate the direct materials, direct bobor, and manufacturing overhead for the standard model? The production manager aiso provided the following additional information with respect to the company's two products: Complete this question by entering your answers in the tabs below. What are the gross margins for the Standard model (cell B17) and the Advanced model (cell C17)? The production manager also provided the following additional information with respect to the company's two products: Complete this question by entering your answers in the tabs below. What percent of the total manufacturing overhead cost is allocated to the Standard model using the plantwide approach? The Agvanced model
