Predetermined Overhead Rate Assignment | Top Universities

Chapter 2 Form worksheet is to be used to create your own worksheet version of the example in the text.

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Enter formulas in the cells that contain question marks. For example, in cell B25 enter the formula “=B10”.

After entering formulas in all of the cells that contained question marks, verify that the amounts match the example in the text.

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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 correct them.

You should proceed to the requirements below only after completing your worksheet.

Save you’re 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.

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. Get Accounting Homework Help Today ?

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