The problem below as to update the total fixed manufacturing overhead cost for the Milling Department in the Date area to $300,000, keeping all the other data the same as in the original example provided below. This update will make the cost of Job 407 should now be $2350.

Use the below table to answer the question marks in the photo attached, Thanks

The below image is the information to answer the question marks in the photo provided below in Excel.

Step 1: Calculate the estimated total manufacturing overhead cost for each department.

Milling Department Overhead Cost (Y)= $390,000 + ($2.00 per MH 60,000 MHs) = $390,000 + $120,000 = $510,000

Assembly Department Overhead Cost (Y) = $500,000 + ($3.75 per DLH 80,000 DLHs) = $500,000 + $300,000 = $800,000

Step 2: Calculate the predetermined overhead rate in each department.

Milling Department Overhead Rate = $510,000/60,000 machine-hours = $8.50 per machine-hour

Assembly Department Overhead Rate = $800,000/80,000 direct labor-hours = $10.00 per direct labor-hour

Step 3: Calculate the amount of overhead applied from both departments to Job 407.

Milling Department: Overhead Applied to Job 407 = $8.50 per MH 90 MHs = $765

Assembly Department: Overhead Applied to Job 407 = $10.00 per DLH 20 DLHs = $200

Step 4: Calculate the total job cost for Job 407.

	Milling	Assembly	Total
Direct materials	$ 800	$ 370	$ 1,170
Direct labor	$ 70	$ 280	350
Manufacturing overhead applied	$ 765	$ 200	965
Total cost of Job 407			$ 2,485

Step 5: Calculate the selling price for Job 407.

Total cost of Job 407	$ 2,485.00
Markup ($2,485 75%)	1,863.75
Selling price of Job 407	$ 4,348.75

Use the above table to answer the Question marks below in the excel photo attached.

solve Step 1

Steps 2

Steps 3

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Steps 5

Enter a formula into each of the cells marked with a ?elow Step 2: Calculate the predetermined overhead rate in each department 32 Total manufacturing overhead Milling Assembly 34 Total machine-hours or direct labor-hours 35 Predetermined overhead rate per machine-hour or direct labor-hour 36 37 Step 3: Calculate the amount of overhead applied from both departments to Job 407 Chapter 3 Form