Step 1: Calculate the estimated total manufacturing overhead cost for each department. File Home Insert Page...

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Step 1: Calculate the estimated total manufacturing overhead cost for each department. File Home Insert Page Layout Formulas Data Review View Automate Help Milling Department Overhead Cost (Y)= $390,000+ ($2.00 per MH x 60,000 MHs) $390,000+ $120,000 X Cut Arial 10 Wrap Text = $510,000 Copy Paste BIU A Merge & Center Assembly Department Overhead Cost (Y) = $500,000+ ($3.75 per DLH 80,000 DLHs) = $500,000+ $300,000 = $800,000 Format Painter Clipboard Font Alignment C28 XVfx ? Step 2: Calculate the predetermined overhead rate in each department. A B D 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. 8 Machine-hours 9 Direct labor-hours 10 Total fixed manufacturing overhead cost 11 Variable manufacturing overhead per machine-hour 12 Variable manufacturing overhead per direct labor-hour 13 14 Cost summary for Job 407 15 16 Machine-hours 17 Direct labor-hours 1 Chapter 2: Applying Excel 2 3 Data 4 Markup on job cost 5 6 7 75% Department Milling Assembly 60,000 8,000 3,000 80,000 $390,000 $500,000 $2.00 $3.75 Department Milling Assembly 90 5 4 20 $800 $370 $70 $280 18 Direct materials 19 Direct labor cost Milling Direct materials $ 800 Assembly $ 370 Total $ 1,170 20 21 Enter a formula into each of the cells marked with a ? below Direct labor $ 70 $ 280 350 22 Manufacturing overhead applied $ 765 $ 200 965 $ 2,485 23 Step 1: Calculate the estimated total manufacturing overhead cost for each department 24 25 Total fixed manufacturing overhead cost Total cost of Job 407 Step 5: Calculate the selling price for Job 407. Markup ($2,485 75%) Total cost of Job 407 $ 2,485.00 1,863.75 Selling price of Job 407 $ 4,348.75 26 Variable manufacturing overhead per machine-hour or direct labor-hour 27 Total machine-hours or direct labor-hours 28 Total variable manufacturing overhead Milling Assembly $390,000 $500,000 $2.00 $3.75 90 4 ? ? ? 29 Total manufacturing overhead 30 31 Step 2: Calculate the predetermined overhead rate in each department 32 33 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 38 Milling Assembly 39 Predetermined overhead rate per machine-hour or direct labor-hour ? 40 Machine-hours or direct labor-hours for the job ? ? ? ? ? 41 Manufacturing overhead applied 42 43 Step 4: Calculate the total job cost for Job 407 < > Chapter 2 Form + Step 1: Calculate the estimated total manufacturing overhead cost for each department. File Home Insert Page Layout Formulas Data Review View Automate Help Milling Department Overhead Cost (Y)= $390,000+ ($2.00 per MH x 60,000 MHs) $390,000+ $120,000 X Cut Arial 10 Wrap Text = $510,000 Copy Paste BIU A Merge & Center Assembly Department Overhead Cost (Y) = $500,000+ ($3.75 per DLH 80,000 DLHs) = $500,000+ $300,000 = $800,000 Format Painter Clipboard Font Alignment C28 XVfx ? Step 2: Calculate the predetermined overhead rate in each department. A B D 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. 8 Machine-hours 9 Direct labor-hours 10 Total fixed manufacturing overhead cost 11 Variable manufacturing overhead per machine-hour 12 Variable manufacturing overhead per direct labor-hour 13 14 Cost summary for Job 407 15 16 Machine-hours 17 Direct labor-hours 1 Chapter 2: Applying Excel 2 3 Data 4 Markup on job cost 5 6 7 75% Department Milling Assembly 60,000 8,000 3,000 80,000 $390,000 $500,000 $2.00 $3.75 Department Milling Assembly 90 5 4 20 $800 $370 $70 $280 18 Direct materials 19 Direct labor cost Milling Direct materials $ 800 Assembly $ 370 Total $ 1,170 20 21 Enter a formula into each of the cells marked with a ? below Direct labor $ 70 $ 280 350 22 Manufacturing overhead applied $ 765 $ 200 965 $ 2,485 23 Step 1: Calculate the estimated total manufacturing overhead cost for each department 24 25 Total fixed manufacturing overhead cost Total cost of Job 407 Step 5: Calculate the selling price for Job 407. Markup ($2,485 75%) Total cost of Job 407 $ 2,485.00 1,863.75 Selling price of Job 407 $ 4,348.75 26 Variable manufacturing overhead per machine-hour or direct labor-hour 27 Total machine-hours or direct labor-hours 28 Total variable manufacturing overhead Milling Assembly $390,000 $500,000 $2.00 $3.75 90 4 ? ? ? 29 Total manufacturing overhead 30 31 Step 2: Calculate the predetermined overhead rate in each department 32 33 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 38 Milling Assembly 39 Predetermined overhead rate per machine-hour or direct labor-hour ? 40 Machine-hours or direct labor-hours for the job ? ? ? ? ? 41 Manufacturing overhead applied 42 43 Step 4: Calculate the total job cost for Job 407 < > Chapter 2 Form +