Chapter 3: Applying Excel: Exercise (Part 2 of 2) 2. Change all of the numbers in the data area of your worksheet so that it looks like this: B 3 1 Chapter 3: Applying Excel 2 3 Data 4 Allocation base 5 Estimated manufacturing overhead cost 6 Estimated total amount of the allocation base Actual manufacturing overhead cost Actual total amount of the allocation base Machine-hours $ 148,000 37,000 machine-hours $ 130,500 42,000 machine-hours 7 8 If your formulas are correct, you should get the correct answers to the following questions. (a) What is the Predetermined overhead rate? (Round your answer to 2 decimal places.) Predetermined overhead rate per machine-hour 2 decimal places required. A Actual manufacturing overhead cost Actual total amount of the allocation base B $290,000 68,000 machine-hours Enter a formula into each of the cells marked with a ? below Computation of the predetermined overhead rate Estimated manufacturing overhead cost Estimated total amount of the allocation base Predetermined overhead rate $300,000 75,000 machine-hours $4.00 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: Predetermined overhead rate $4.00 per machine-hour Actual total amount of the allocation base 68,000 machine-hours Manufacturing overhead applied Underapplied (overapplied) manufacturing overhead $ 18,000