Chapter 2: Applying Excel Data Markup on job cost 75% Department Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Cost summary for Job 407 Machine-hours Direct labor-hours Direct materials Direct labor cost Enter a formula into each of the cells marked with a ? bolow Step 1: Calculate the estimated total manufacturing overhead cost for each department Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour or direct labor-hour Total machine-hours or direct labor-hours Total variable manufacturing overhead Total manufacturing overhead Step 2: Calculate the predetermined overhead rate in each department Total manufacturing overhead Total machine-hours or direct labor-hours Predetermined overhead rate per machine-hour or direct labor-hour Mlling Department Miling Assembly $3.75 Step 3: Calculate the amount of overhead applied from both departments to Job 407 Predetermined overhead rate per machine-hour or direct labor-hour Machine-hours or direct labor-hours for the job Manulacturing overhead applied Step 4: Calculate the total job cost for Job 407 Direct materials Direct labor cost Manufacturing overhead applied Total cost of Job 407 Step 5: Calculate the selling price for Job 407 Total cost of Job 407 Markup Selling price of Job 407