| Chapter 2: Applying Excel |
| 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 407 | Department |
| | Milling | Assembly |
| Machine-hours | 90 | 4 |
| Direct labor-hours | 5 | 20 |
| 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 |
| | Milling | Assembly |
| Total fixed manufacturing overhead cost | ? | ? |
| Variable manufacturing overhead per machine-hour or direct labor-hour | ? | ? |
| Total machine-hours or direct labor-hours | ? | ? |
| Total variable manufacturing overhead | ? | ? |
| Total manufacturing overhead | ? | ? |
| Step 2: Calculate the predetermined overhead rate in each department |
| | Milling | Assembly |
| Total manufacturing overhead | ? | ? |
| Total machine-hours or direct labor-hours | ? | ? |
| Predetermined overhead rate per machine-hour or direct labor-hour | ? | ? |
| Step 3: Calculate the amount of overhead applied from both departments to Job 407 |
| | Milling | Assembly |
| Predetermined overhead rate per machine-hour or direct labor-hour | ? | ? |
| Machine-hours or direct labor-hours for the job | ? | ? |
| Manufacturing overhead applied | ? | ? |
| Step 4: Calculate the total job cost for Job 407 |
| | Milling | Assembly | Total |
| Direct materials | ? | ? | ? |
| Direct labor cost | ? | ? | ? |
| Manufacturing overhead applied | ? | ? | ? |
| Total cost of Job 407 | | | ? |
| Step 5: Calculate the selling price for Job 407 |
| Total cost of Job 407 | | | ? |
| Markup | | | ? |
| Selling price of Job 407 | | | ? |
Xlpsmp07
Chapter_2_ApplyingExcelManagerialAccounting.xlsx
