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: 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.) (b) By how much is the manufacturing overhead underapplied or overapplied? 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 67,000 machine-hours, but keep everything the same as in Requirement 2. The data area of your worksheet should now look like this: (a) By how much is the manufacturing overhead underapplied or overapplied? (b) Why is the amount of underapplied (overapplied) manufacturing overhead different from Requirement 2 above? (You may seiect 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 predetemined overhead rate. The change in the estimated total amount of the aliocation base affected the amount of manufacturing ovechead applied. Actual manufacturing overhead cost differs from period to period. The estimated manufacturing ovechead cost did not change in proportion to the change in the estmated total amount of the allocation bose. 4. Change the estimated total amount of the allocation base back to 59,000 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 $411,200 to $408,800. The data area of your worksheet should now look like this: (a) By how much is the manufacturing overhead underapplied or overapplied? (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.) 7 The predetermined overhead rate changed 2 The change in the actual manufocturing overheod cost directly resulted in a comparable:change in the amount of underapplied (overapplied) manufacturing overhesd. 2 The change in the estimated total amount of the allocation base affected the amount of manufocturing overhead opplied
