75% Department Milling 60,000 8,000 $390,000 $2.00 4 Markup on job cost 5. 7 Machine-hours 8 Direct labor-hours 9 Total fixed manufacturing overhead cost 10 Variable manufacturing overhead per machine-hour 11 Variable manufacturing overhead per direct labor-hour Assembly 3,000 80,000 $500,000 $3.75 12 Department Milling 13 Cost summary for Job 407 14 15 Machine-hours 16 Direct labor-hours 17 Direct materials 18 Direct labor cost Assembly 90 6 40 $510 $470 $108 $800 19 20 Enter a formula into each of the cells marked with a ? below 21 22 Step 1: Calculate the estimated total manufacturing overhead cost for each department 23 24 Total fixed manufacturing overhead cost 25 Variable manufacturing overhead per machine-hour or direct labor-hour 26 Total machine-hours or direct labor-hours 27 Total variable manufacturing overhead 28 Total manufacturing overhead Milling Assembly 29 30 Step 2: Calculate the predetermined overhead rate in each department 31 Milling Assembly 32 Total manufacturing overhead 33 Total machine-hours or direct labor-hours 34 Predetermined overhead rate per machine-hour or direct labor-hour ? 35 36 Step 3: Calculate the amount of overhead applied from both departments to Job 407 37 Milling Assembly 38 Predetermined overhead rate per machine-hour or direct labor-hour 39 Machine-hours or direct labor-hours for the job 40 Manufacturing overhead applied 41 42 Step 4: Calculate the total job cost for Job 407 43 Milling Assembly Total 44 Direct materials
75% Department Milling 60,000 8,000 $390,000 $2.00 4 Markup on job cost 5. 7 Machine-hours 8 Direct labor-hours 9 Total fixed manufacturing overhead cost 10 Variable manufacturing overhead per machine-hour 11 Variable manufacturing overhead per direct labor-hour Assembly 3,000 80,000 $500,000 $3.75 12 Department Milling 13 Cost summary for Job 407 14 15 Machine-hours 16 Direct labor-hours 17 Direct materials 18 Direct labor cost Assembly 90 6 40 $510 $470 $108 $800 19 20 Enter a formula into each of the cells marked with a ? below 21 22 Step 1: Calculate the estimated total manufacturing overhead cost for each department 23 24 Total fixed manufacturing overhead cost 25 Variable manufacturing overhead per machine-hour or direct labor-hour 26 Total machine-hours or direct labor-hours 27 Total variable manufacturing overhead 28 Total manufacturing overhead Milling Assembly 29 30 Step 2: Calculate the predetermined overhead rate in each department 31 Milling Assembly 32 Total manufacturing overhead 33 Total machine-hours or direct labor-hours 34 Predetermined overhead rate per machine-hour or direct labor-hour ? 35 36 Step 3: Calculate the amount of overhead applied from both departments to Job 407 37 Milling Assembly 38 Predetermined overhead rate per machine-hour or direct labor-hour 39 Machine-hours or direct labor-hours for the job 40 Manufacturing overhead applied 41 42 Step 4: Calculate the total job cost for Job 407 43 Milling Assembly Total 44 Direct materials
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please help here with formulas that I need to use and all the calculations to get to these answers in Excel. Thank you
Transcribed Image Text:D.
A
75%
Department
Milling
60,000
8,000
$390,000
$2.00
4 Markup on job cost
5.
6.
7 Machine-hours
8 Direct labor-hours
9 Total fixed manufacturing overhead cost
10 Variable manufacturing overhead per machine-hour
11 Variable manufacturing overhead per direct labor-hour
Assembly
3,000
80,000
$500,000
$3.75
12
Department
Assembly
90
13 Cost summary for Job 407
14
Milling
4
15 Machine-hours
16 Direct labor-hours
17 Direct materials
18 Direct labor cost
19
20 Enter a formula into each of the cells marked with a ? below
40
$510
$108
$470
$800
21
22 Step 1: Calculate the estimated total manufacturing overhead cost for each department
23
Milling
Assembly
24 Total fixed manufacturing overhead cost
25 Variable manufacturing overhead per machine-hour or direct labor-hour
26 Total machine-hours or direct labor-hours
27 Total variable manufacturing overhead
28 Total manufacturing overhead
29
30 Step 2: Calculate the predetermined overhead rate in each department
31
Milling
Assembly
32 Total manufacturing overhead
33 Total machine-hours or direct labor-hours
34 Predetermined overhead rate per machine-hour or direct labor-hour
35
36 Step 3: Calculate the amount of overhead applied from both departments to Job 407
37
Milling
Assembly
38 Predetermined overhead rate per machine-hour or direct labor-hour
39 Machine-hours or direct labor-hours for the job
40 Manufacturing overhead applied
41
42 Step 4: Calculate the total job cost for Job 407
43
Milling
Assembly
Total
44 Direct materials
Chapter 2 Form (2)
Chapter 2 Form
Ready
Transcribed Image Text:Chapter 2: Applylng 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:
A
Chapter 2: Applying Excel
Cost summary for Job 408
Department
Milling
Assembly
Machine-hours
90
4
Direct labor-hours
40
Direct materials cost
510
470
Direct labor cost
108
800
ces
In your worksheet, enter this new data in the cells for Job 407
What is the new selling price for Job 4082 (Round your finol answer to 2 declmal places.)
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 4,000 machine-hours? (Round your flnal answer to 2
declmal places.)
Selling price for Job 408
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 declmal places.)
Selling price for Job 408
4.
6.
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