anagerial Accounting oject #2 Break-even Cookie Project his project will focus on applying your knowledge product costing, breakeven nalysis, and achieving a target profit. For this project you will be a small business owner selling cookies. You will letermine the name of your business and what type of cookies you'd like to sell. Complete the following criteria in the excel workbook provided. List your business name, type of cookie being sold, and your estimated quantity to be sold in your workbook. (Make sure to populate vour estimated quantity to be sold or other areas of vour workbook will not populate correctlv). 1. Select any cookie recipe. In the workbook provided you'll identify all of the ingredients, the direct materials to make the cookies. Include the cookie recipe in your workbook. 2. List all of the ingredients and record in your workbook. Determine the cost to purchase all of your ingredients. Calculate your total direct materials cost. You can do this buy visiting a local grocery store, or looking up the costs online (BJ's, Sam's Club, Walmart, etc.) a. You can estimate here, and do not need to be scientific about figuring the ratio of ingredients. If your recipe calls for salt, purchase 1 container of salt. If you're unsure how many bags of flour you'll need just estimate. Try to keep it simple! 3. Determine your direct labor cost. How many employees will you need to manufacture and sell your cookies? Record all of your employees and their pay rates. Determine how many hours each employee will work. Calculate your total direct labor cost. 4. Determine your manufacturing overhead costs. What other expenses will you incur to operate your cookie business? Think about what you know about indirect costs - things you will need but cannot directly trace back to the cost of the cookies. Record and estimate all of your manufacturing overhead costs. Calculate your total manufacturing overhead costs. 5. Using the plant-wide overhead rate as your manufacturing overhead allocation method, calculate how much manufacturing overhead cost will be allocated to each cookie. Use number of cookies as your allocation base. Show your calculation