Required information Chapter 3: Applying Excel Step 1: Download the Applying Excel form located on the left-hand side, under files. If you have trouble, the file is also located in D2L under Course Administration. Step 2: Then enter formulas in all cells that contain question marks. For example, in cell B13 enter the formula "=B5". Step 3: Check your worksheet by changing the estimated total amount of the allocation base in the Data area to 50,000 machine-hours, keeping all of the other data the same as in the original example. If your worksheet is operating properly, the predetermined overhead rate should now be $6.00 per machine-hour. If you do not get this answer, find the errors in your worksheet and correct them. Step 4: Proceed to the requirements below only after completing your worksheet as it will be used to answer the following questions. Chapter 3: Applying Excel: Exercise 2. Change all of the numbers in the data area of your worksheet so that it looks like this: A B 1 Chapter 3: Applying Excel N 3 Data 4 5 Allocation base Estimated manufacturing overhead cost Estimated total amount of the allocation base 7 Actual manufacturing overhead cost 8 Actual total amount of the allocation base 6 Machine-hours $ 359,900 59,000 machine-hours $ 344,900 57,000 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.) Predetermined overhead rate per machine- hour (b) By how much is the manufacturing overhead underapplied or overapplied? manufacturing overhead