Managerial Accounting VLOOKUP Assignment
Ozuna Company uses a job-order costing system with a plantwide predetermined overhead rate based on direct labor-hours. For job costing purposes, it uses an average direct labor wage rate of $20 per hour. The company has been struggling financially; accordingly, it has asked you to conduct a job profitability study beginning with a thorough critique of its existing cost system. To keep the scope of your project manageable, you have chosen a subset of 12 jobs from the many jobs completed by the company during the year. Your goal is to complete the table shown below and comment on the insights that it provides:
| Job | Sales | Direct Materials | Direct Labor | Applied Overhead | Total Job Cost | Gross Margin | |
| 1 | $ | 2,400 | ? | ? | ? | ? | ? |
| 2 | $ | 5,400 | ? | ? | ? | ? | ? |
| 3 | $ | 9,000 | ? | ? | ? | ? | ? |
| 4 | $ | 1,450 | ? | ? | ? | ? | ? |
| 5 | $ | 2,200 | ? | ? | ? | ? | ? |
| 6 | $ | 7,000 | ? | ? | ? | ? | ? |
| 7 | $ | 1,700 | ? | ? | ? | ? | ? |
| 8 | $ | 1,600 | ? | ? | ? | ? | ? |
| 9 | $ | 8,000 | ? | ? | ? | ? | ? |
| 10 | $ | 4,100 | ? | ? | ? | ? | ? |
| 11 | $ | 3,200 | ? | ? | ? | ? | ? |
| 12 | $ | 2,800 | ? | ? | ? | ? | ? |
Click here to download the Excel template, which you will use to answer the questions that follow.
Click here for a brief tutorial on PivotTables in Excel.
Click here for a brief tutorial on VLOOKUP in Excel.
Required:
1. Go to the tab titled “Direct Materials Requisitions.”:
a. Using PivotTable, calculate the total direct materials cost for each of the 12 jobs.
b. What is the total direct materials cost for Jobs 5 and 11?
Step by Step Solution and Explanation – VLOOKUP Assignment
1.
a.
Microsoft Excel’s Pivot Table function can determine each job’s total direct materials cost as follows:
- Go to the “Direct Materials Requisitions” tab
- Click in any cell that contains data
- Go to the “Insert” tab
- Click on “PivotTable” and the “Create PivotTable” Wizard will pop up:
- Under “Choose the data that you want to analyze” make sure the …
- Click on “PivotTable” and the “Create PivotTable” Wizard will pop up:
Related: 100% correct Solution MOS3370 Chapter 1 Practice Problems
b.
The direct materials costs are … Please click on the Icon below to purchase the full answer at only $3
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