Required information Chapter 2: Applying Excel This Excel worksheet relates to the Dickson Company example that is summarized in Chapter 2: Applying Excel: Excel Worksheet (Part 1 of 2) 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. You should proceed to the requirements below only after completing your worksheet. Required: 1. 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. 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. Chapter 2: Applging Ezcel Data Markup on job cost 75% Department Machine-hours Direct labor-hours Total fined manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Cost summary for Job 407 Machine-hours Direct labor-hours Direct materials Direct labor cost Milling 60,000 8,000 $390,000 $2.00 Assembly 3,000 80,000 $500,000 $3.75 Department Milling Assembly Step 1: Calculate the estimated total manufacturing overhead cost for each department Milling Assembly Total fined 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 \begin{tabular}{r|r|} 90 & 4 \\ 5 & 20 \\ $800 & $370 \\ $70 & $280 \end{tabular} 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 \begin{tabular}{ll} ? & ? \\ ?? & ? \\ \hline? & ? \end{tabular} Step 3: Calculate the amount of overhead applied from both departments to Job 407 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 Direct materials Direct labor cost Manufacturing overhead applied Milling Assembly 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 Required information Chapter 2: Applying Excel This Excel worksheet relates to the Dickson Company example that is summarized in Exhibit 2-5 Chapter 2: Applying Excel: Exercise (Part 2 of 2) 2. Change the total fixed manufacturing overhead cost for the Milling Department in Data area back to $390,000, keeping all of the other data the same as in the original example. Consider a new job, Job 408, with the following characteristics: In your worksheet, enter this new data in the cells for Job 407. What is the new selling price for Job 408 ? (Round your final answer to 2 decimal places.) In your worksheet, enter this new data in the cells for Job 407. What is the new selling price for Job 408 ? (Round your final answer to 2 decimal places.) 3. Without changing the data for the job from requirement 2 above, what is the selling price for Job 408 if the total number of machinehours in the Assembly Department increases from 3,000 machine-hours to 6,000 machine-hours? (Round your final answer to 2 decimal places.) 4. Restore the total number of machine-hours in the Assembly Department to 3,000 machine-hours. And keep the job data the same as it was in Requirement 2. What is the selling price for Job 408 if the total number of direct labor-hours in the Assembly Department decreases from 80,000 direct labor-hours to 40,000 direct labor-hours? (Round your final answer to 2 decimal places.)