2 3 Data 4 Markup on job cost 5 6 7 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 18 Direct materials 19 Direct labor cost 20 21 Enter a formula into each of the cells marked with a ? below 22 75% Department Milling Assembly 60,000 3,000 8,000 80,000 $390,000 $500,000 $2.00 $3.75 Department Milling Assembly 60 4 8 20 $830 $310 $160 $380 23 Step 1: Calculate the estimated total manufacturing overhead cost for each department 24 25 Total fixed manufacturing overhead cost 26 Variable manufacturing overhead per machine-hour or direct labor-hour 27 Total machine-hours or direct labor-hours 28 Total variable manufacturing overhead 29 Total manufacturing overhead Milling Assembly ? ? ? ? ? ? ? ? ? ? 30 31 Step 2: Calculate the predetermined overhead rate in each department 32 Milling Assembly 33 Total manufacturing overhead ? ? 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 44 45 Direct materials 46 Direct labor cost 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 54 < < Milling Assembly Total ? ? ? ? ? ? ? ? ? ? ? ? ?