Data Markup on job cost 75% Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Department Milling Assembly 60,000 3,000 8,000 80,000 $390,000 $500,000 $2.00 $3.75 Cost summary for Job 407 Machine-hours Direct labor-hours Direct materials Direct labor cost Department Milling Assembly 90 4 5. 20 $800 $370 $70 S280 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 ? ? ? ? 7 7 Step 2: Calculate the predetermined overhead rate in each department V Milling Total manufacturing overhead Total machine hours or direct labor-hours Predetermined overhead rato per machine-hour or direct labor-hour ? 2 ? Assembly ? ? ? ? part Step 3: Calculate the amount of overhead applied from both departments to Job 407 Milling Assembly ? ? Predetermined overhead rale 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 Total ? ? Direct materials Direct labor cost Manulacturing overhead applied ? ? ? ? 7 7 Chapter 2: Applying Excel Data Markup on job cost Reg. 1: Enter $300,000 for the green Total fixed manufacturing overhead cost cell in the Milling Department data section at the left. If your formulas are correct the total cost of Job 407 should now be $2,350. If not, go back to the formulas page, make corrections, press the copy formulas button, and recheck your answers until they are correct. When correct, answer the questions below. 75% Milling How much is the Selling Price of Job 407? Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Department Assembly 60,000 3,000 8,000 80.000 ? $500,000 $2.00 $3.75 Cost summary for Job 407 Did the Selling Price of Job 407 change? Why or why not? Machine-hours Direct labor-hours Direct materials Direct labor cost Department Milling Assembly 90 4 5 20 S800 $370 $70 S260 Milling Assembly ? 9 ? 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 overtiead Total manufacturing overhead ? ? 2 ? ? ? ? 2 2 Step 2: Calculate the predetermined overhead rate in each department Milling ? Total manufacturing overhead Total machine-hours or direct labor-hours Prarletermined overhead rate per machine hour or direct labor.hu Assembly ? ? ? 2 Milling Assembly ? 7 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 ? ? ? ? ? ? 7 ? Step 2: Calculate the predetermined overhead rate in each department Milling Total manufacturing overhead Total machine-hours or direct labor-hours Predetermined overhead rate per machine-hour or direct labor-hour ? ? 2 ? Assembly ? ? 2 I port Z 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 Total Assembly ? 2 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 ? ? ? Chapter 2: Applying Excel Req. 2: Enter the data from requirment 2 on page 85of the text in the green cells for Job 408 at the left. Data Markup on job cost 75% What is the new Selling Price for Job 408? Machine hours Direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhoud por machine-hour Variable manufacturing overhead per direct labar-hour Department Milling 60,000 3,000 8,000 80,000 $390,000 $500,000 $2.00 $3.75 Cost summary for Job 408 Machine-hours Direc: labar-hours Direct materials Direct labor cost Department Milling Assembly 7 ? ? ? 2 2 ? ? Milling Assembly 2 7 ? ? Talal fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour or direct labor-hour Total machine-hours or direct labor-hours Talal variable manufacturing overhead Total manufacturing overhead ? ? ? ? 2 ? Step 2: Calculate the predetermined overhead rate in each department Milling ? Tatal manufacturing overhead Tatal machine hours ar direct labor-hours Predetermined overhead rate per machine-hour or direct labor-hour Assembly ? ? ? ? ? ? ? ? Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour or direct labor-hour Tolal machine-hours or direct labor-hours Total variable manufacturing overhead Total manufacturing overhead ? 7 ? ? ? 7 Step 2: Calculate the predetermined overhead rate in each department Miling Total manufacturing overhead Total machine-hours or direct labor-hours Predetermined overhead rate per machine-hour or direct labor-hour ? ? Assembly 7 ? ? ? Step 3: Calculate the amount of overhead applied from both departments to Job 408 Miling Assembly ? Predetermined overhead rate per machine hour or direct laber-hour Machine-hours or direct labor-hours for the job Manufacturing overhead applied ? ? ? ? 7 Step 4: Calculate the total job cost for Job 408 Miling Total Assembly ? 2 ? ? ? ? ? Direct materials Direct labor cost Manufacluring overhead applied Total cost of Job 408 7 ? ? ? Step 5: Calculate the selling price for Job 408 Total cost of Job 408 Markup Selling price of Job 40B ? ? Chapter 2: Applying Excel Req. 3: Change the total number of Assembly Department machine hours in creen sell at the left to 6.000 hours Data Markup on job cost 75% Did the new Selling Price for Job 408 change compared to req. 2? Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor hour Department Milling Assembly 60,000 8,000 80,000 $390,000 $500,000 2.00 S3.75 Cost summary for Job 408 Why or why not? Machine-hours Direct labor-hours Direct materials Direct labor cost Department Milling Assembly 90 5 20 $800 $370 $70 $280 Milling Total fixed manufacturing overtiead 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 ? ? ? ? ? Assembly ? ? ? ? 7 Step 2: Calculate the predetermined overhead rate in each department Milling Assembly ? Total manufacturing overhead Total machine-hours or direct labor-hours Predetermined overhead rate per machine hour or direct labor-hour ? ? ? ? Step 3: Calculate the amount of overhead applied from both departments to Job 408 Milling Predetermined overhead rate per machine-hour or direct labor-hour Machine-hours or direct labor-hours for the job Manufacturing overhead applied ? ? Assembly ? ? ? ? Step 4: Calculate the total job cost for Job 408 port Milling Total Assernbly ? ? ? ? Direct materials Direct labor cost Manufacturing overhead applied Total cost of Job 408 ? ? ? ? ? ? Step 5: Calculate the selling price for Job 408 Total cost of Job 408 Markup Selling price of Job 409 ? ? ? Chapter 2: Applying Excel Req. 4: Change the total number of Assembly Department direct labor hours in green cell at the left to 50,000 hours. Data Markup on job cost 75% Did the new Selling Price for Job 408 change compared to req. 2? Machine-hours Direct labor hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Department Milling Assembly 60,000 3,000 8,000 ? $390,000 S500,000 $2.00 $3.75 Cost summary for Job 408 Why or why not? Machine-hours Direct labor-hours Direct materials Direct labor cost Department Milling Assembly 90 5 20 S800 S370 $70 $280 Milling Assembly ? ? 7 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 ? ? ? 7 ? ? ? Step 2: Calculate the predetermined overhead rate in each department Milling Assembly ? ? Tolal manufacturing overhead Total machine-hours or direct labor-hours Predetermined overhead rate per machine-hour or direct labor-hour ? ? ? ? Step 3: Calculate the amount of overhead applied from both departments to Job 408 Milling pool Predetermined overhead rate per machine-hour or direct labor-hour Machine-hours or direct labor-hours for the job Manufacturing overhead applied Assembly ? ? ? ? ? ? Step 4: Calculate the total job cost for Job 408 Milling Assembly Total ? ? Direct materials Direct labor cost Manufacturing overhead applied Total cost of Job 408 ? ? ? ? ? ? ? ? Step 5: Calculate the selling price for Job 408 Total cost of Job 408 Markup Selling price of Job 408