Far example, in cell 13 enter the formula -85 After entering formulas in all of the cels that contained qucstion marks, verify that the dollar amounts match the examnple in the text. same as in the original example. If yaur warkshoet is operating properiy, the predctormined overhoad rate bo te co ner macine e t ap r tod asn tie d coones hus, kenping all of the other datan th C A Chapter 3: Apply ing Excel Data Allocation base Machine-hours $300,000 75,000 mach ine-hours $290,000 68,000 mach ine-hours Estimated manufacturing overhead cost Estimated total amount of the allocation base Actual manufacturing overhead cost Actual total amount of the allocation base Enter a formula into each of the cells marked with a ? below Computation of the predetermined overhead rate Estimated manufacturing overhead cost ? ? machine-hours Estimated total amount of the allocation base Predetermined overhead rate ? 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 ? per machine-hour Actual total amount of the allocation base ?machine-hours Manufacturing overhead applied Underapplied (overapplied) manufacturing overhead ? 2. Change all of the numbers in the data area of your worksheet so that it looks like this: A 1 Chapter 3: Applying Excel 2 3 Data Machine- hours 4 Allocation base 5 Estimated manufacturing overhead cost 6 Estimated total amount of the |allocation base 7 Actual manufacturing overhead cost 8 Actual total amount of the |allocation base 648,000 81,000 machine- hours 660,500 73,000 machine- Thours 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.) per machine- hour Predetermined overhead rate (b) By how much is the manufacturing overhead underapplied or overapplied? Underapplie manufacturing overhead This is a numeric cell, so please enter numbers only. 3. Either print or make a copy of your worksheet in your workbook before proceeding. You will need to refer back to this worksheet Change the estimated total amount of the allocation base to 80,000 machine-hours, but keep everything the same as in Requirement 2. The data area of your worksheet should now look like this: B C A Chapter 3: Applying Excel 1 2 Data 3 Machine- hours 4 Allocation base Estimated manufacturing overhead Cost Estimated total amount of the allocation base 5 $ 648,000 80,000 machine- hours |Actual manufacturing overhead 7 $ 660,500 Cost 8 Actual total amount of the 73.000machine- (a) By how much is the manufacturing overhead underapplied or overapplied? manufacturing overhead (b) Why is the amount of underapplied (overapplied) manufacturing overhead different from Requirement 2 above? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answers and double click the box with the question mark to empty the box for a wrong answers. Any boxes left with a question mark will be automatically graded as incorrect.) The change in the estimated total amount of the allocation base affected the predetermined overhead rate. The change in the estimated total amount of the allocation base affected the amount of manufacturing overhead applied. Actual manufacturing overhead cost differs from period to period. The estimated manufacturing overhead cost did not change in proportion to the change in the estimated total amount of the allocation base. 4. Change the estimated total amount of the allocation base back to 81,000 machine-hours, so that the data area of you worksheet looks exactly the same as in Requirement 2. Now change the actual manufacturing overhead cost from $660,500 to $651,800. The data area of your worksheet should now look like this: A C 1 |Chapter 3: Applying Excel 2 Data Machine- hours Allocation base 5 Estimated manufacturing overhead cost $ 648,000 81,000 machine- hours 6 Estimated total amount of the allocation base 7 Actual manufacturing overhead cost 8 Actual total amount of the $ 651,800 73.000 machine- (a) By how much is the manufacturing overhead underapplied or overapplied? manufacturing overhead (b) Why is the amount of underapplied (overapplied) manufacturing overhead different from Requirement 2 above? (You may select more than one answer. Sing le click the box with the question mark to produce a check mark for a correct answers and double click the box with the question mark to empty the box for a wrong answers. Any boxes left with a question mark will be automatically graded as incorrect.) The predetermined overhead rate changed. The change in the actual manufacturing overhead cost directly resulted in a comparable change in the amount of underapplied (overapplied) manufacturing overhead. ? The change in the estimated total amount of the allocation base affected the amount of manufacturing overhead applied. 2. Change all of the numbers in the data area of your worksheet so that it looks like this: 1 Chapter 3: Applying Excel 2 3 Data Machine- hours 4 Allocation base 5 Estimated manufacturing overhead cost 6 Estimated total amount of the allocation base 7Actual manufacturing overhead cost 8 Actual total amount of the allocation base $396,000 66,000 machine- hours $393,300 70,000 machine- hours 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.) per machine- hour Predetermined overhead rate (b) By how much is the manufacturing overhead underapplied or overapplied? manufacturing overhead 3. Either print or make a copy of your worksheet in your workbook before proceeding. You will need to refer back to this worksheet Change the estimated total amount of the allocation base to 60,000 machine-hours, but keep everything the same as in Requirement 2. The data area of your worksheet should now look like this: A B Chapter 3: Applying Excel 1 2 Data 3 Machine- hours 4 Allocation base 5 Estimated manufacturing overhead cost 6 Estimated total amount of the allocation base | Actual manufacturing overhead cost 8 Actual total amount of the $396,000 60,000 machine- hours 7 $393,300 70.000 machine- (a) By how much is the manufacturing overhead underapplied or overapplied? manufacturing overhead (b) Why is the amount of underapplied (overapplied) manufacturing overhead different from Requirement 2 above? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answers and double click the box with the question mark to empty the box for a wrong answers. Any boxes left with a question mark will be automatically graded as incorrect.) The change in the estimated total amount of the allocation base affected the predetermined overhead rate. The change in the estimated total amount of the allocation base affected the amount of manufacturing overhead applied. Actual manufacturing overhead cost differs from period to period. The estimated manufacturing overhead cost did not change in proportion to the change in the estimated total amount of the allocation base. 4. Change the estimated total amount of the allocation base back to 66,000 machine-hours, so that the data area of you worksheet looks exactly the same as in Requirement 2. Now change the actual manufacturing overhead cost from $393,300 to $391,200. The data area of your worksheet should now look like this: A 1 Chapter 3: Applying Excel 2 3 Data Machine- hours 4 Allocation base 5 Estimated manufacturing overhead Cost 6 Estimated total amount of the allocation base 7 Actual manufacturing overhead Cost 8 Actual total amount of the $396,000 66,000 machine- hours $391,200 70.000 machine- (a) By how much is the manufacturing overhead underapplied or overapplied? manufacturing overhead (b) Why is the amount of underapplied (overapplied) manufacturing overhead different from Requirement 2 above? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answers and double click the box with the question mark to empty the box for a wrong answers. Any boxes left with question mark will be automatically graded as incorrect.) The predetermined o rate changed. The change in the actual manufacturing overhead cost directly resulted in a comparable change in the amount of underapplied (overapplied) manufacturing overhead. The change in the estimated total amount of the allocation base affected the amount of manufacturing overhead applied