Chapter 3: Applying Excel Data Machine-hours Allocation base $300,000 Estimated manufacturing overhead cost Estimated total amount of the allocation base 75.000 machine-hours $290,000 Actual manufacturing overhead cost Actual total amount of the allocation base 68,000 machine-hours Enter a formula into each of the cells marked with a 7 below Computation of the predetermined overhead rate Estimated manufacturing overhead cost Estimated total amount of the allocation base Predetermined overhead rate 7 ? machine-hours ? per machine-hour Computation of underapplied or overapplied manufacturing overhead Actual manufacturing overhead cost Manufacturing overhead cost applied to Work in Process during the year 7 ? per machine-hour Predetermined overhead rate ? machine-hours Actual total amount of the allocation base 7 Manufacturing overhead applied Underapplied (overapplied) manufacturing overhead Download the Applying Excel form and enter formulas in all cells that contain question marks. 1 For example, in cell B13 enter the formula " B5 . After entering formulas in all of the cells that contained question marks, verify that the dollar amounts match the example in the text Part 1 of 2 Check your worksheet by changing the estimated total amount of the allocation base in the Data area to 50,000 machine-hours, keeping all of the other data the same as in the original example. If your worksheet is operating properly, the predetermined overhed rate should now be $6.00 per machine- hour. If you do not get this answer, find the errors in your worksheet and correct them eBooks Save your completed Applying Excel form to your computer and then upload it here by clicking "Browse." Next, click "Save." You will use this worksheet to answer the questions in Part 2