Chapter 2: Applying Excel 2 Data 4 Markup on job cost 5 75% Department Milling Assembly 60,000 3,000 8,000 80,000 RM390,000.00 RM500,000.00 RM200 RM3.75 7 & Machine-hours 9. Direct Inbor-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 23 Step 1: Calculate the estimated total manufacturing overhead cost for each department Department Milling Assembly 90 4 5 20 RM800.00 RM370.00 RM70.00 RM280.00 A B Step 1: Calculate the estimated total manufacturing overhead cost for each department Milling Assembly ? 2 2 7 Total fixed manufacturing overhead cost 5 Variable manufacturing overhead per machine hour or direct labor hour Total machine-hours or direct labor-hours Total vanable manufacturing overhead Total manufacturing overhead 0 Step 2: Calculate the predetermined overhead rate in each department ? ? 2 2 2 2 Milling Assembly 2 3 Total manufacturing overhead Total machine-hours or direct labor-hours Predetermined overhead rate per machine-hour or direct labor-hour 5 Step 3: Calculate the amount of overhead applied from both departments to Job 407 ? ? ? 2 Milling Assembly 2 2 2 Predetermined overhead rate per machine-hour or direct labor-hour Machine-hours or direct labor-hours for the job Manufacturing overhead applied 2 Step 4: Calculate the total Job cost for Job 407 2 ? Milling Assembly 11 B D A Step 2: Calculate the predetermined overhead rate in each department Milling Assembly ? 2 Total manufacturing overhead Total machine hours or direct labor-hours Predetermined overhead rate per machine hour or direct labor hour 2 ? 2 2 Step 3: Calculate the amount of overhead applied from both departments to Job 407 Milling Assembly direct labor-hour ? Predetermined overhead rate per machine-hour Machine hours or direct labor hours for the job Manufacturing overhead applied 2 2 2 2 2 Step 4: Calculate the total job cost for Job 407 Milling Assembly Total Direct materials Direct labor cost Manufacturing overhead applied Total cost of Job 407 2 2 2 2 ? 2 ? ? Step 5: Calculate the selling price for Job 407 Total cost of Job 407 Markup Selling price of Job 407