Business, 25.02.2021 18:30 iamjenng9330

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? A
B
C
1Chapter 2: Applying Excel
2
3Cost summary for Job 408
Department
4
Milling
Assembly
5Machine-hours804
6Direct labor-hours920
7Direct materials cost$760$330
8Direct labor cost$171$400
9
In your worksheet, enter this new data in the cells for Job 407.
2. 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 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.)
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 decimal places.)
Chapter 2: Applying Excel
Data
Markup on job cost75%
Department
MillingAssembly
Machine-hours60,0003,000
Direct labor-hours8,00080,000
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 407Department
MillingAssembly
Machine-hours904
Direct labor-hours520
Direct materials$800$370
Direct labor cost$70$280
Enter a formula into each of the cells marked with a ? below
Step 1: Calculate the estimated total manufacturing overhead cost for each department
MillingAssembly
Total fixed manufacturing overhead cost$390,000$500,000
Variable manufacturing overhead per machine-hour or direct labor-hour$2.00$3.75
Total machine-hours or direct labor-hours60,00080,000
Total variable manufacturing overhead$120,000$300,000
Total manufacturing overhead$420,000$800,000
Step 2: Calculate the predetermined overhead rate in each department
MillingAssembly
Total manufacturing overhead$420,000$800,000
Total machine-hours or direct labor-hours60,00080,000
Predetermined overhead rate per machine-hour or direct labor-hour$7.00$10.00
Step 3: Calculate the amount of overhead applied from both departments to Job 407
MillingAssembly
Predetermined overhead rate per machine-hour or direct labor-hour$7.00$10.00
Machine-hours or direct labor-hours for the job9020
Manufacturing overhead applied$630.00$200.00
Step 4: Calculate the total job cost for Job 407
MillingAssemblyTotal
Direct materials$800.00$370.00$1,170.00
Direct labor cost$70.00$280.00$350.00
Manufacturing overhead applied$630.00$200.00$830.00
Total cost of Job 407 $2,350.00
Step 5: Calculate the selling price for Job 407
Total cost of Job 407 2,350.00
Markup 75.00
Selling price of Job 407 4,112.50

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