Step 1: Download the Applying Excel form located on the left-hand side, under files. If you have trouble, the file is also located in D2L under Course Files and Resources. This Excel worksheet form is to be used to recreate part of the example relating to Turbo Crafters that appears earlier in the chapter Step 2: Then enter formulas in all cells that contain question marks. For example, in cell B13 enter the formula "=B5". Step 3: 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. Step 4: Proceed to the requirements below only after completing your worksheet as it will be used to answer the following questions. 2. Change all of the numbers in the data area of your worksheet so that it looks like this: B C A 1 Chapter 3: Applying Excel 2 3 Data 4 Allocation base 5 Estimated manufacturing overhead cost 6 Estimated total amount of the allocation base 7 Actual manufacturing overhead cost R Arhuntalamint of the allocatinn haca Machine-hours $ 622,500 75,000 machine-hours $ 610,000 72 nnn machine houre Required information VU 4 4 Allocation base 5 Estimated manufacturing overhead cost 6 Estimated total amount of the allocation base 7 Actual manufacturing overhead cost 8 Actual total amount of the allocation base Machine-hours $ 622,500 75,000 machine-hours $ 610,000 72,000 machine-hours s 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? Check my wo 0 Required information (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 83,000 machine-hours, but keep everything the same as in Requirement 2. The data area of your worksheet should now look like this: B no 40 Required information 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 83,000 machine-hours, but keep everything the same as in Requirement 2. The data area of your worksheet should now look like this: B ces A 1 Chapter 3: Applying Excel 2 3 Data 4 Allocation base 5 Estimated manufacturing overhead cost 6 Estimated total amount of the allocation base 7 Actual manufacturing overhoed cost 8 Actual total amount of the allocation base Machine-hours $ 622,500 83,000 machine-hours $ 610,000 72,000 machine hours (a) By how much is the manufacturing overhead underapplied or overapplied? Required information (a) By how much is the manufacturing overhead underapplied or overapplied? manufacturing overhead Book Files Print eferences (6) 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 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 The channn in the nation intol maint of the allation hann after the maint of manfarin nicht and (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 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. Actual manufacturing overhead cost differs from period to period. 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 75,000 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 $610,000 to $617,900. The data area of your worksheet should now look like this: B 1 Chapter 3: Applying Excel 2 3 Data