Info in images 2. Change all of the numbers in the data area of your worksheet so that it looks like this:AВC1Chapter 3: Applying ExcelData4Allocation baseMachine-hoursEstimated manufacturing overhead cost$713,4006.Estimated total amount of the allocation base87,000 machine-hours7Actual manufacturing overhead cost695,9008.Actual total amount of the allocation base86,000 machine-hoursIf 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 rateper machine-hour(b) By how much is the manufacturing overhead underapplied or overapplied?manufacturing overhead243. B23fx=B18-B22AВC1 Chapter 3: Applying Excel3 Data4 Allocation baseMachine-hours$300,00075,000 machine-hours$290,00068,000 machine-hours5 Estimated manufacturing overhead cost6 Estimated total amount of the allocation base7 Actual manufacturing overhead cost8 Actual total amount of the allocation base9.10 Enter a formula into each of the cells marked with a ? below1112 Computation of the predetermined overhead rate13 Estimated manufacturing overhead cost14 Estimated total amount of the allocation base15 Predetermined overhead rate$300,00075,000 machine-hours$4.00 per machine-hour1617 Computation of underapplied or overapplied manufacturing overhead18 Actual manufacturing overhead cost19 Manufacturing overhead cost applied to Work in Process during the year:$ 290,000$4.00 per machine-hour68,000 machine-hours$ 272,000$20Predetermined overhead rate21Actual total amount of the allocation baseManufacturing overhead applied23 |Underapplied (overapplied) manufacturing overhead2218,000242526272820

Here, the mention question example given shows the correct formula. The predetermined overhead rate…

(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

(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

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Info in images

2. Change all of the numbers in the data area of your worksheet so that it looks like this:
A
В
C
1
Chapter 3: Applying Excel
Data
4
Allocation base
Machine-hours
Estimated manufacturing overhead cost
$
713,400
6.
Estimated total amount of the allocation base
87,000 machine-hours
7
Actual manufacturing overhead cost
695,900
8.
Actual total amount of the allocation base
86,000 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
24
3.

B23
fx
=B18-B22
A
В
C
1 Chapter 3: Applying Excel
3 Data
4 Allocation base
Machine-hours
$300,000
75,000 machine-hours
$290,000
68,000 machine-hours
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
9.
10 Enter a formula into each of the cells marked with a ? below
11
12 Computation of the predetermined overhead rate
13 Estimated manufacturing overhead cost
14 Estimated total amount of the allocation base
15 Predetermined overhead rate
$300,000
75,000 machine-hours
$4.00 per machine-hour
16
17 Computation of underapplied or overapplied manufacturing overhead
18 Actual manufacturing overhead cost
19 Manufacturing overhead cost applied to Work in Process during the year:
$ 290,000
$4.00 per machine-hour
68,000 machine-hours
$ 272,000
$
20
Predetermined overhead rate
21
Actual total amount of the allocation base
Manufacturing overhead applied
23 |Underapplied (overapplied) manufacturing overhead
22
18,000
24
25
26
27
28
20

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