Required information This Excel worksheet relates to the Dickson Company example that is summarized in Exhibit 2-5 Download the Applying Excel form and enter formulas in all cells that contain question marks. The Chapter 2 Form worksheet is to be used to create your own worksheet version of the example in the text. Enter formulas in the cells that contain question marks. For example, in cell B25 enter the formula "-B10" d After entering formulas in all of the cells that contained question marks, verify that the amounts match the example in the text. k Check your worksheet by changing the total fixed manufacturing overhead cost for the Milling Department in the Data area to $300,000, keeping all other data the same as in the original example. If your worksheet is operating properly, the total cost of Job 407 should now be $2,350. If you do not get this answer, find the errors in your worksheet and t nces correct them. You should proceed to the requirements below only after com eting your wor Save your completed Applying Excel form to your computer and then upload it here by clicking "Browse." Next, click "Save." You will use this worksheet to answer the questions in Part 2 fix ? X B45 F E D B A 1 Chapter 2: Applying Excel 75% 4 Markup on job cost Department Assembly 3,000 Milling 60,000 8,000 $390,000 $2.00 Machine-hours Direct labor-hours 80,000 $500,000 10 Total fixed manufacturing overhead cost 11 Variable manufacturing overhead per mach ine-hour 12 Variable manufacturing overhead per direct labor-hour $3.75 Department Milling 90 14 Cost summary for Job 407 Assembly 16 Machine-hours 20 5 $370 Direct labor-hours $800 18 Direct materials 19 Direct labor cost $280 $70 21 Enter a formula into each of the cells marked with a ? below 23 Step 1: Calculate the estimated total manufacturing overhead cost for each department Milling Assembly 25 Total fixed manufacturing overhead cost 26 Variable manufacturing overhead per machine-hour or direct labor-hour 27 Total machine-hours or direct labor-hours 28 Total variable manufacturing overhead Total manufacturing overhead ? ? ? ? ? 2 30 31 Step 2: Calculate the predetermined overhead rate in each department Assembly Milling 32 33 Total manufacturing overhead 34 Total machine-hours or direct labor-hours 35 Predetermined overhead rate per machine-hour ? r direct labor-hour 36 37 Step 3: Calculate the amount of overhead applied from both departments to Job 407 Milling Assembly 38 ? 39 Predetermined overhead rate per machine-hour or direct labor-hour 40 Machine-hours or direct labor-hours for the job 41 Manufacturing overhead applied ? 234567890unB984234 83: 3 Step 1: Calcu late the estimated total manufacturing overhead cost for each department Assembly Milling 4 ? 5 Total fixed manufacturing overhead cost 26 Variable manufacturing overhead per machine-hour or direct labor- 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 Milling Assembly ? 32 ? 33 Total manufacturing overhead 34 Total machine-hours or direct labor-hours 35 Predetermined overhead rate per machine-hour or direct labor-hour ? ? ? 36 37 Step 3: Calculate the amount of overhead applied from both departments to Job 407 Assembly ? Milling 38 39 Predetermined overhead rate per machine-hour or direct labor-hour 40 Machine-hours or direct labor-hours for the job 41 Manufacturing overhead applied ? ? ? 42 43 Step 4: Calculate the total job cost for Job 407 Milling Assembly Total 44 ? 45 Direct materials 46 Direct labor cost ? ? 7 47 Manufacturing overhead applied 48 Total cost of Job 407 ? ? 49 50 Step 5: Calculate the selling price for Job 407 51 Total cost of Job 407 52 Markup 53 Selling price of Job 407 ? 54 55 56 7 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 x 60,000 MHs) - $390,000 + $120,000 = $ 510,000 = $ 500,000 + ($3.75 per DLH x 80,000 DLHS) = $500,000 + $300,000 = $800,000 Step 2: Calculate the predetermined overhead rate in each department. Milling Department Overhead Rate: Assembly Department Overhead Rate: $510,000 60,000 machine-hours $800,000 80,000 direct labor-hours $10.00 per direct labor-hour = $8.50 per machine-hour Step 3: Calculate the amount of overhead applied from both departments to Job 407. Milling Department: Overhead Applied to Job 407 Assembly Department: Overhead Applied to Job 407 = $8.50 per MH x 90 MHs - $765 = $10.00 per DLH x 20 DLHS = $200 Step 4: Calculate the total job cost for Job 407. Milling Assembly $370 $280 $200 Total Direct materials $800 $1,170 Direct labor $ 70 350 Manufacturing overhead applied $765 965 Total cost of Job 407 $2,485 Step 5: Calculate the selling price for Job 407. Total cost of Job 407 $2,485.00 Markup ($2,485 x 75%) 1,863.75 Selling price of Job 407 $4,348.75 Submit Save & Exit Help ct- Chapter 2 G Saved Check my work Required information 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.) Selling price for Job 408 ook rint 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 5,000 machine-hours? (Round your final answer to 2 decimal places.) rences 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 50,000 direct labor-hours? (Round your final answer to 2 decimal places.) es Selling price for Job 408 Required information This Excel worksheet relates to the Dickson Company example that is summarized in Exhibit 2-5 Download the Applying Excel form and enter formulas in all cells that contain question marks. The Chapter 2 Form worksheet is to be used to create your own worksheet version of the example in the text. Enter formulas in the cells that contain question marks. For example, in cell B25 enter the formula "-B10" d After entering formulas in all of the cells that contained question marks, verify that the amounts match the example in the text. k Check your worksheet by changing the total fixed manufacturing overhead cost for the Milling Department in the Data area to $300,000, keeping all other data the same as in the original example. If your worksheet is operating properly, the total cost of Job 407 should now be $2,350. If you do not get this answer, find the errors in your worksheet and t nces correct them. You should proceed to the requirements below only after com eting your wor Save your completed Applying Excel form to your computer and then upload it here by clicking "Browse." Next, click "Save." You will use this worksheet to answer the questions in Part 2 fix ? X B45 F E D B A 1 Chapter 2: Applying Excel 75% 4 Markup on job cost Department Assembly 3,000 Milling 60,000 8,000 $390,000 $2.00 Machine-hours Direct labor-hours 80,000 $500,000 10 Total fixed manufacturing overhead cost 11 Variable manufacturing overhead per mach ine-hour 12 Variable manufacturing overhead per direct labor-hour $3.75 Department Milling 90 14 Cost summary for Job 407 Assembly 16 Machine-hours 20 5 $370 Direct labor-hours $800 18 Direct materials 19 Direct labor cost $280 $70 21 Enter a formula into each of the cells marked with a ? below 23 Step 1: Calculate the estimated total manufacturing overhead cost for each department Milling Assembly 25 Total fixed manufacturing overhead cost 26 Variable manufacturing overhead per machine-hour or direct labor-hour 27 Total machine-hours or direct labor-hours 28 Total variable manufacturing overhead Total manufacturing overhead ? ? ? ? ? 2 30 31 Step 2: Calculate the predetermined overhead rate in each department Assembly Milling 32 33 Total manufacturing overhead 34 Total machine-hours or direct labor-hours 35 Predetermined overhead rate per machine-hour ? r direct labor-hour 36 37 Step 3: Calculate the amount of overhead applied from both departments to Job 407 Milling Assembly 38 ? 39 Predetermined overhead rate per machine-hour or direct labor-hour 40 Machine-hours or direct labor-hours for the job 41 Manufacturing overhead applied ? 234567890unB984234 83: 3 Step 1: Calcu late the estimated total manufacturing overhead cost for each department Assembly Milling 4 ? 5 Total fixed manufacturing overhead cost 26 Variable manufacturing overhead per machine-hour or direct labor- 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 Milling Assembly ? 32 ? 33 Total manufacturing overhead 34 Total machine-hours or direct labor-hours 35 Predetermined overhead rate per machine-hour or direct labor-hour ? ? ? 36 37 Step 3: Calculate the amount of overhead applied from both departments to Job 407 Assembly ? Milling 38 39 Predetermined overhead rate per machine-hour or direct labor-hour 40 Machine-hours or direct labor-hours for the job 41 Manufacturing overhead applied ? ? ? 42 43 Step 4: Calculate the total job cost for Job 407 Milling Assembly Total 44 ? 45 Direct materials 46 Direct labor cost ? ? 7 47 Manufacturing overhead applied 48 Total cost of Job 407 ? ? 49 50 Step 5: Calculate the selling price for Job 407 51 Total cost of Job 407 52 Markup 53 Selling price of Job 407 ? 54 55 56 7 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 x 60,000 MHs) - $390,000 + $120,000 = $ 510,000 = $ 500,000 + ($3.75 per DLH x 80,000 DLHS) = $500,000 + $300,000 = $800,000 Step 2: Calculate the predetermined overhead rate in each department. Milling Department Overhead Rate: Assembly Department Overhead Rate: $510,000 60,000 machine-hours $800,000 80,000 direct labor-hours $10.00 per direct labor-hour = $8.50 per machine-hour Step 3: Calculate the amount of overhead applied from both departments to Job 407. Milling Department: Overhead Applied to Job 407 Assembly Department: Overhead Applied to Job 407 = $8.50 per MH x 90 MHs - $765 = $10.00 per DLH x 20 DLHS = $200 Step 4: Calculate the total job cost for Job 407. Milling Assembly $370 $280 $200 Total Direct materials $800 $1,170 Direct labor $ 70 350 Manufacturing overhead applied $765 965 Total cost of Job 407 $2,485 Step 5: Calculate the selling price for Job 407. Total cost of Job 407 $2,485.00 Markup ($2,485 x 75%) 1,863.75 Selling price of Job 407 $4,348.75 Submit Save & Exit Help ct- Chapter 2 G Saved Check my work Required information 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.) Selling price for Job 408 ook rint 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 5,000 machine-hours? (Round your final answer to 2 decimal places.) rences 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 50,000 direct labor-hours? (Round your final answer to 2 decimal places.) es Selling price for Job 408