Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Cost summary for Job 407 Machine-hours Direct labor-hours Direct materials Milling Department Assembly 60,000 3,000 8,000 80,000 $390,000 $500,000 $2.00 $3.75 Department Milling Assembly 90 4 5 20 $800 $370 $70 $280 Direct labor cost 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 $390,000 ? Variable manufacturing overhead per machine-hour or direct labor-hour $2.00 ? Total machine-hours or direct labor-hours 68,000 ? 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 ? ? 3 Step 4: Calculate the total job cost for Job 407 3 Direct materials Direct labor cost Manufacturing overhead applied 3 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 Milling Assembly Total ? ? ? ? ? ? ? ? ? ? 222 ? ? ?

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Machine-hours
Direct labor-hours
Total fixed manufacturing overhead cost
Variable manufacturing overhead per machine-hour
Variable manufacturing overhead per direct labor-hour
Cost summary for Job 407
Machine-hours
Direct labor-hours
Direct materials
Milling
Department
Assembly
60,000
3,000
8,000
80,000
$390,000
$500,000
$2.00
$3.75
Department
Milling
Assembly
90
4
5
20
$800
$370
$70
$280
Direct labor cost
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
$390,000
?
Variable manufacturing overhead per machine-hour or direct labor-hour
$2.00
?
Total machine-hours or direct labor-hours
68,000
?
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
?
?
3 Step 4: Calculate the total job cost for Job 407
3 Direct materials
Direct labor cost
Manufacturing overhead applied
3 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
Milling
Assembly
Total
?
?
?
?
?
?
?
?
?
?
222
?
?
?
Transcribed Image Text:Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Cost summary for Job 407 Machine-hours Direct labor-hours Direct materials Milling Department Assembly 60,000 3,000 8,000 80,000 $390,000 $500,000 $2.00 $3.75 Department Milling Assembly 90 4 5 20 $800 $370 $70 $280 Direct labor cost 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 $390,000 ? Variable manufacturing overhead per machine-hour or direct labor-hour $2.00 ? Total machine-hours or direct labor-hours 68,000 ? 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 ? ? 3 Step 4: Calculate the total job cost for Job 407 3 Direct materials Direct labor cost Manufacturing overhead applied 3 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 Milling Assembly Total ? ? ? ? ? ? ? ? ? ? 222 ? ? ?
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