Return to cuestion Chapter 2: Applying Excel: Exercise (Part 2 of 2) 2. Change the total fixed manufacturing overhead cost for the Milling Department in Data area back to $390,000, keeping all of the other data the same as in the original example. Consider a new job, Job 408, with the following characteristics: B 1 2 Chapter 2: Applying Excel 3 Cost summary for Job 408 4 Department Milling Assembly 60 5 4 8 40 6 Machine-hours Direct labor-hours Direct materials cost Direct labor cost 7 $ $ 500 $ 152 $ 210 760 B In your worksheet, enter this new data in the cells for Job 407 What is the new selling price for Job 408? (Round your final answer to 2 decimal places.) work you have completed so far. It does not indicate completion In your worksheet, enter this new data in the cells for Job 407 What is the new selling price for Job 408? (Round your final answer to 2 decimal places.) Answer is complete but not entirely correct. Selling price for Job 408 $ 4.299.75 3. Without changing the data for the job from requirement 2 above, what is the selling price for Job 408 if the total number of machine hours in the Assembly Department increases from 3,000 machine-hours to 5,000 machine-hours (Round your final answer to 2 decimal places.) Answer is complete but not entirely correct. Selling price for Job 408 S 4.299.75 aces.) X Answer is complete but not entirely correct. Spling price for Job 408 $ 4,299.75 4. Restore the total number of machine-hours in the Assembly Department to 3 as it was in Requirement 2. What is the selling price for Job 408 if the total num decreases from 80,000 direct labor-hours to 40,000 direct labor-hours? (Round Answer is complete and correct.. Selling price for Job 408 $ 4,868.50 15 2 3 Data 4 Markup on job cost 5 75% 6 7 Department 8 Machine-hours Milling Assembly 9 Direct labor-hours 60,000 3,000 10 Total fixed manufacturing overhead cost 8,000 80,000 11 Variable manufacturing overhead per machine-hour $390,000 $500,000 $2.00 12 Variable manufacturing overhead per direct labor-hour 13 $3.75 14 Cost summary for Job 407 Department Milling Assembly 16 Machine-hours 60 4 17 Direct labor-hours 8 40 18 Direct materials $500 $210 19 Direct labor cost $152 $760 21 Enter a formula into each of the cells marked with a ? below 22 23 Step 1: Calculate the estimated total manufacturing overhead cost for each department Milling Assembly 24 $390,000 $500,000 25 Total fixed manufacturing overhead cost $2.00 $3.75 26 Variable manufacturing overhead per machine-hour or direct labor-hour 60,000 40.000 27 Total machine-hours or direct labor-hours $120.000 $150.000 $510.000 $650.000 28 Total variable manufacturing overhead 29 Total manufacturing overhead Chapter 2 Form 20 B D 26 Variable manufacturing overhead per machine hour or direct labor-hour 27 Total machine hours or direct labor-hours $2.00 $3.75 28 Total variable manufacturing overhead 60,000 40,000 29 Total manufacturing overhead $120,000 $150,000 30 $510,000 $650,000 31 Step 2: Calculate the predetermined overhead rate in each department 32 Milling 33 Total manufacturing overhead Assembly $510,000 $650,000 34 Total machine-hours or direct labor-hours 60,000 80,000 35 Predetermined overhead rate per machine-hour or direct labor-hour $8.50 $8.13 36 37 Step 3: Calculate the amount of overhead applied from both departments to Job 407 38 Milling Assembly 39 Predetermined overhead rate per machine-hour or direct labor-hour $8.50 $8.13 O Machine-hours or direct labor hours for the job 60 40 11 Manufacturing overhead applied $510.00 $325.00 32 13 Step 4: Calculate the total job cost for Job 407 14 Milling Assembly $500.00 $210.00 35 Direct materials $152.00 $760.00 16 Direct labor cost $510.00 $325.00 27 Manufacturing overhead applied 18 Total cost of Job 407 19 Step 5: Calculate the selling price for Job 407 -1 Total cost of Job 407 2 Markup -3 Selling price of Job 407 Total $710.00 $912.00 $835.00 $2.457.00 2.457 00 1.842.75 4.299.75 Chapter 2: Applying Excel D Data Markup on job cost 75% Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Department Milling Assembly 60,000 3,000 8,000 80,000 $390,000 $500,000 $2.00 $3.75 Cost summary for Job 407 Machine-hours Direct labor-hours Direct materials Direct labor cost Department Milling Assembly 90 4 5 20 $800 $370 $70 $280 Enter a formula into each of the cells marked with a ? below Step 1: Calculate the estimated total manufacturing overhead cost for each department Milling Assembly Total fixed manufacturing overhead cost $300,000 $500.000 Variable manufacturing overhead per machine-hour or direct labor-hour $2.00 $3.75 Total machine-hours or direct labor-hours 60.000 80.000 Total variable manufacturing overhead $120.000 $300,000 Total manufacturing overhead $420,000 $800.000 D 27 Total machine hours or direct labor-hours 28 Total variable manufacturing overhead 29 Total manufacturing overhead B 60,000 $120,000 $420,000 C 80,000 $300,000 $800,000 30 31 Step 2: Calculate the predetermined overhead rate in each department 32 Milling Assembly 33 Total manufacturing overhead $420,000 $800,000 34 Total machine-hours or direct labor-hours 60,000 80,000 35 Predetermined overhead rate per machine-hour or direct labor-hour $7.00 $10.00 36 37 Step 3: Calculate the amount of overhead applied from both departments to Job 407 38 Milling Assembly 39 Predetermined overhead rate per machine-hour or direct labor-hour $7.00 $10.00 40 Machine-hours or direct labor-hours for the job 90 20 41 Manufacturing overhead applied $630.00 $200.00 42 43 Step 4: Calculate the total job cost for Job 407 Milling Assembly 45 Direct materials $800.00 $370.00 46 Direct labor cost $70.00 $280.00 $630.00 $200.00 47 Manufacturing overhead applied 48 Total cost of Job 407 49 50 Step 5: Calculate the selling price for Job 407 51 Total cost of Job 407 52 Markup 53 Selling price of Job 407 44 Total $1,170.00 $350.00 $830.00 $2,350.00 2,350.00 1.762.50 4.112.50 54 Chapter 2 Form