Download the Applying Excel form and enter formulas in all cells that contain question marks. The...

  

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Download the Applying Excel form and enter formulas in all cells that contain question marks. The Chapter 2 Form worksheet is to be used to create your own worksheet version of the example in the text. Enter formulas in the cells that contain question marks. For example, in cell B25 enter the formula "=B10". After entering formulas in all of the cells that contained question marks, verify that the amounts match the example in the text. Check your worksheet by changing the total fixed manufacturing overhead cost for the Milling Department in the Data area to $300,000, keeping all other data the same as in the original example. If your worksheet is operating properly, the total cost of Job 407 should now be $2,350. If you do not get this answer, find the errors in your worksheet and correct them. Data Markup on job cost 75% Department Milling 60,000 8,000 $390,000 $2.00 Assembly 3,000 80,000 $500,000 Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour $3.75 Cost summary for Job 407 Department Milling Assembly Machine-hours 90 Direct labor-hours 20 $800 $70 Direct materials $370 $280 Direct labor cost Enter a fomula into each of the cells marked with a ? below Step 1: Calculate the estimated total manufacturing overhead cost for each department Milling Assembly 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 Milling Assembly Total manufacturing overhead Total machine-hours or direct labor-hours Predetemined overhead rate per machine-hour or direct labor-hour ? Step 3: Calculate the amount of overhead applied from both departments to Job 407 Milling Assembly Predetermined overhead rate per machine-hour or direct labor-hour Machine-hours or direct labor-hours for the job Manufacturing overhead applied ? Step 4: Calculate the total job cost for Job 407 Milling ? Assembly 1? Total 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 ? Download the Applying Excel form and enter formulas in all cells that contain question marks. The Chapter 2 Form worksheet is to be used to create your own worksheet version of the example in the text. Enter formulas in the cells that contain question marks. For example, in cell B25 enter the formula "=B10". After entering formulas in all of the cells that contained question marks, verify that the amounts match the example in the text. Check your worksheet by changing the total fixed manufacturing overhead cost for the Milling Department in the Data area to $300,000, keeping all other data the same as in the original example. If your worksheet is operating properly, the total cost of Job 407 should now be $2,350. If you do not get this answer, find the errors in your worksheet and correct them. Data Markup on job cost 75% Department Milling 60,000 8,000 $390,000 $2.00 Assembly 3,000 80,000 $500,000 Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour $3.75 Cost summary for Job 407 Department Milling Assembly Machine-hours 90 Direct labor-hours 20 $800 $70 Direct materials $370 $280 Direct labor cost Enter a fomula into each of the cells marked with a ? below Step 1: Calculate the estimated total manufacturing overhead cost for each department Milling Assembly 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 Milling Assembly Total manufacturing overhead Total machine-hours or direct labor-hours Predetemined overhead rate per machine-hour or direct labor-hour ? Step 3: Calculate the amount of overhead applied from both departments to Job 407 Milling Assembly Predetermined overhead rate per machine-hour or direct labor-hour Machine-hours or direct labor-hours for the job Manufacturing overhead applied ? Step 4: Calculate the total job cost for Job 407 Milling ? Assembly 1? Total 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 ?

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