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:
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1. What is the new selling price for Job 408? (Round your final answer to 2 decimal places.)
2.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 final answer to 2 decimal places.)
3.
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? (Round your final answer to 2 decimal places.)
markup on job cost is 75%
2.
Selling price of Job 408 = $3657.50
Department | |||
Milling | Assembly | ||
Machine hours | 60000 | 3000 | |
Direct Labor hours | 8000 | 80000 | |
Total Fixed Manufacturing Overhead | $ 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 408 | Department | ||
Milling | Assembly | ||
Machine Hours | 60 | 2 | |
Direct Labor hours | 5 | 20 | |
Direct Material | $ 510 | $ 400 | |
Direct Labor Cost | $ 90 | $ 380 | |
Milling | Assembly | ||
Total Fixed Manufacturing Overhead | $ 390,000 | $ 500,000 | |
Variable manufacturing overhead per machine hour | $ 2.00 | $ 3.75 | |
Total Machine hours or direct labor hours | 60000 | 80000 | |
Total Variable Manufacturing Overhead | $ 120,000 | $ 300,000 | |
Total Manufacturing Overhead | $ 510,000 | $ 800,000 | |
Milling | Assembly | ||
Total Manufacturing Overhead | $ 510,000 | $ 800,000 | |
Total Machine hours or direct labor hours | 60000 | 80000 | |
Predetermined Overhead rate | $ 8.50 | $ 10.00 | |
Milling | Assembly | ||
Predetermined Overhead rate | $ 8.50 | $ 10.00 | |
Machine hours or direct labor hours for the job | 60 | 20 | |
Manufacturing overhead applied | $ 510 | $ 200 | |
Milling | Assembly | Total | |
Direct Materials | $ 510 | $ 400 | $ 910 |
Direct Labor cost | $ 90 | $ 380 | $ 470 |
Manufacturing overhead applied | $ 510 | $ 200 | $ 710 |
Total Cost of Job 408 | $ 2,090 | ||
Total Cost of Job 408 | $ 2,090.00 | ||
Markup | $ 1,567.50 | ||
Selling Price of Job 408 | $ 3,657.50 |
3.
Selling Price of Job 408 = $3657.50
Machine hours has not impact on assembly
4. Selling Price of Job 408 = $3788.75
Formula Sheet
Milling | Assembly | ||
Total Fixed Manufacturing Overhead | =B10 | =C10 | |
Variable manufacturing overhead per machine hour | =B11 | =C12 | |
Total Machine hours or direct labor hours | =B8 | =C9 | |
Total Variable Manufacturing Overhead | =B26*B27 | =C26*C27 | |
Total Manufacturing Overhead | =B25+B28 | =C25+C28 | |
Milling | Assembly | ||
Total Manufacturing Overhead | =B29 | =C29 | |
Total Machine hours or direct labor hours | =B27 | =C27 | |
Predetermined Overhead rate | =B33/B34 | =C33/C34 | |
Milling | Assembly | ||
Predetermined Overhead rate | =B35 | =C35 | |
Machine hours or direct labor hours for the job | =B16 | =C17 | |
Manufacturing overhead applied | =B39*B40 | =C39*C40 | |
Milling | Assembly | Total | |
Direct Materials | =B18 | =C18 | =B45+C45 |
Direct Labor cost | =B19 | =C19 | =B46+C46 |
Manufacturing overhead applied | =B41 | =C41 | =B47+C47 |
Total Cost of Job 408 | =D45+D46+D47 | ||
Total Cost of Job 408 | =D48 | ||
Markup | =D51*B4 | ||
Selling Price of Job 408 | =D51+D52 |
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Change the total fixed manufacturing overhead cost for the Milling Department in Data area back to...
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 B с 1 2 Chapter 2: Applying Excel 3 Cost summary for Job 408 4 5 6 Machine-hours Direct labor hours Direct materials cost Direct labor cost Department Milling Assembly 90 2 9 20 760 $ 330 162...
1. 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 B с 1 Chapter 2: Applying Excel 2 3 Cost summary for Job 408 4 5 Department Milling Assembly 50 2 8 20 820 $ 270 144 $ 320 Machine-hours Direct labor-hours Direct materials cost Direct labor cost...
2. Change the total fixed manufacturing overhead cost for the Milling Department in Data area back to $390,000, keeping all of the other data the same as in the original example. Consider a new job, Job 408, with the following characteristics: А B с 1 Chapter 2: Applying Excel Cost summary for Job 408 2 3 4 5 Machine-hours Direct labor hours Direct materials cost Direct labor cost Department Milling Assembly 70 2 5 40 880$ 440 95 $ 640...
In your worksheet, enter this new data in the cells for Job 407. Cost summary for Job 408 Department Milling Assembly Machine Hours 70 2 Direct labor hours 6 20 Direct material cost 640 380 Direct labor cost 114 380 What is the new selling price for Job 408? (Round your final answer to 2 decimal places.) 3. Without changing the data for the job from requirement 2 above, what is the selling price for Job 408 if the total...
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? 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...
Given the following data, answer the questions below the table: ---------------------------------------------------------------------------------------------------------------------- Data Markup on job cost 75% Department Milling Assembly Machine-hours 60,000 3,000 Direct labor-hours 8,000 80,000 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 408 Department Milling Assembly Machine-hours 60 4 Direct labor-hours 8 40 Direct materials $900 $470 Direct labor cost $152 $800 ---------------------------------------------------------------------------------------------------------------------- a) What is the selling price for Job...
Here are the instructions, my apologies Chapter 2: Applying Excel: Exercise 1. 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: А B С Book 1 Chapter 2: Applying Excel 2 Files 3 Cost summary for Job 408 4 5 Department Muling Assembly 70 4 0 20 840 $...
EXHIBIT 2-5 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): Assembly Department Overhead Cost (Y): = $390,000 + ($2.00 per MH 60,000 MHs) = $500,000 + ($3.75 per DLH 80,000 DLHs) = $390,000+ $120,000 = $500,000 + $300,000 = $510,000 = $800,000 Step 2 Calculate the predetermined overhead rate in each department Milling Department Overhead Rate: Assembly Department Overhead Rate: $510,000 $800,000 60,000...
Help figuring out this problem show work if you can EXHIBIT 2-5 Dickson Company: An Example Using Multiple Predetermined Overhead Rates Step 1: Calculate the estimated total manufacturing overhead cost for each department. Miling Department Overhead Cost (Y): Assembly Department Overhead Cost (Y): = $390,000 + ($2.00 per MH X 60.000 MHS) = $500,000 + ($3.75 per DLH X 80,000 DLHs) = $390,000+ $120,000 = $500,000 + $300,000 = $510,000 = $800,000 Step 2: Calculate the predetermined overhead rate in...
Chapter 2 Applying Excel (B) Help Saved 1 Required information This Excel worksheet relates to the Dickson Company example that is summarized in Exhibit 2-5 10 points 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: eBook Print A B C References 1 Chapter 2: Applying Excel 3...