Question

Answer the empty places
* M * 12%D E Mon 10:28 PM Q E Excel File Edit View Insert Format .. AutoSave OFF Home Insert Draw Page Layout Formulas | BAS A x ✓ fox ? Tools Data Window Help Chapter_2_Applying_Excel_Student_Form (1) Data Review View Share Comments C D E F G H I J K L M N O P Q 1 Chapter 2: Applying Excel 3 Data 4 Markup on job cost 75% B Machine hours 9 Direct labor-hours 10 Total foved manufacturing overead cost 11 Variable manufacturing averhead per machine hour 12 Variable manufacturing overhead per direct labor-hour Department Miling Assembly 80,000 3,000 8.000 80,000 $390.000 $500,000 S2.00 $3.75 14 Cost summary for Job 407 Department Miling Assembly 16 Machine hours 17 Direct labor-hours 18 Direct materials 19 Dimet labor cost 3800 $70 20 $370 $280 21 Enter a farmu ina each of the cells rurked with a ? below 22 23 Step 1: Calculate the estimated total manufacturing overhead cost for each department Miling 25 Total faced manufacturing overeed cost 26 Variable manufacturing avemead per machine hour or direct la bar hour 27 Total machine-hours or direct labor-hours 28 Total variable manufacturing overhead 29 Total manufacturing overhead 30 31 Step 2: Calculate the predetermined overhead rate in each department Assembly 33 Total manufacturing overead 34 Tolal machine-hours or direct labor-hours 35 Predetermined overhond rata par machine-hour or direct labor-hour Assembly 37 Step 3: Calculate the amount of overhead applied from both departments to Job 407 Miling 39 Predetermined overhead rate per machine-hour or direct labor-hour 40 Machine hour or direct Inbar hours for the job 41 Manufacturing overead applied 43 Step 4: Calculate the total Job cost for Job 407 Chapter 2 Form + Microsoft Word + 100% 4009511988 * TONO A9 =), w x DEU

Answer 1

Data
Markup on Job Cost	75%
	Department
	Milling	Assembly
Machine-hours	60000	3000
Direct labor hours	8000	80000
Total Fixed manufacturing overhead cost	$390,000	$500,000
Variable manufacturing overhead per machine hour	$2.00
Variable manufacturing overhead per direct labor hour		$3.75
Cost summary for Job 407	Department
	Milling	Assembly
Machine-hours	90	4
Direct labor hours	5	20
Direct Materials	$800	$370
Direct labor cost	$70	$280
1. Calculate the estimated total manufacturing overhead cost for each department
	Department
	Milling	Assembly
Total Fixed manufacturing overhead cost (A)	$390,000	$500,000
Variable manufacturing overhead per machine hour or direct labor hour (B)	$2.00	$3.75
Total Machine hours or direct lobor hours ( C )	60000	80000
Total variable manufacturing overhead D = (B*C)	$120,000.00	$300,000.00
Total manufacturing overhead (E = A+D)	$510,000.00	$800,000.00
2. Calculate the predetermined overhead rate in each department
	Department
	Milling	Assembly
Total manufacturing overhead ( E )	$510,000.00	$800,000.00
Total Machine hours or direct lobor hours ( C )	60000	80000
Predetermined Overhead rate per machine hour or direct labor (F = E/C)	$8.50	$10.00
3. Calculate the amount of overhead applied from both departments to Job 407
	Department
	Milling	Assembly
Predetermined Overhead rate per machine hour or direct labor ( F )	$8.50	$10.00
Machine hours or direct labor hours for the job (refer cost summary for job 407 table ) (G)	90	20
Manufacturing overhead applied (H = F*G)	$765.00	$200.00
4. Calculate the Total job cost for Job 407
	Department
Extracted from cost summary for job 407 table	Milling	Assembly	Total
Direct Materials	$800	$370	$1,170
Direct labor cost	$70	$280	$350
Manufacturing overhead applied (H above)	$765.00	$200.00	$965
Total job cost for Job 407	$1,635	$850	$2,485
5. Calculate the Selling price for Job 407
	Amount
Total job cost for Job 407	$2,485
(+) Markup (75%)	$1,863.75
Selling price for Job 407	$4,348.75