This Excel worksheet relates to the Dickson Company example summarized in Exhibit $3-5$ EXHIBIT $3-5$ Dickson Company: An Example Using Multiple Predetermined Overhead Rates Step $1$: Calculate the estimated total manufacturing overhead cost for each department. Milling Department Overhead Cost $($Y$)$: $=$ $$390,000+($$$2\mathrm{.}00$ per MH $60,000$ MHs$)=$ $$390,000+$ $$120,000=$ $$510,000$ Assembly Department Overhead Cost $($Y$)$: $=$ $$500,000+($$$3\mathrm{.}75$ per DLH $80,000$ DLHs$)=$ $$500,000+$ $$300,000=$ $$800,000$ Step $2$: Calculate the predetermined overhead rate in each department. Milling Department Overhead Rate: $=$ $$510,00060,000$ machine$-$hours $=$ $$8\mathrm{.}50$ per machine$-$hour Assembly Department Overhead Rate: $$800,00080,000$ direct labor$-$hours $=$ $$10\mathrm{.}00$ per direct labor$-$hour Step $3$: Calculate the amount of overhead applied from both departments to Job $407.$ Milling Department: Overhead Applied to Job $407=$ $$8\mathrm{.}50$ per MH $90$ MHs $=$ $$765$ Assembly Department: Overhead Applied to Job $407=$ $$10\mathrm{.}00$ per DLH $20$ DLHs $=$ $$200$ Step $4$: Calculate the total job cost for Job $407.$MillingAssemblyTotalDirect materials$ $800$$ $370$$ $1,170$Direct labor cost$ $70$$ $280350$Manufacturing overhead applied$ $765$$ $200965$Total cost of Job $407$$ $2,485$ Step $5$: Calculate the selling price for Job $407.$ Total cost of Job $407$$ $2,485\mathrm{.}00$Markup $($$$2,48575\%)1,863\mathrm{.}75$Selling price of Job $407$$ $4,348\mathrm{.}752.$ 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 $408?3.$ Without changing the data for the job from requirement $2$ above, what is the selling price for Job $408$ if the total number of machine$-$hours in the Assembly Department increases from $3,000$ machine$-$hours to $6,000$ machine$-$hours? $4.$ 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 $50,000$ direct labor$-$hours?