Blueprint Activity: Managerial Accounting Concepts and Principles Managerial vs. Financial Cost Classification Financial Statements Income Statements ance Sheets Able Baker Charlie Company well is starting a cheesecake bakery, Able Baker Charlie Company, to pxoduce and sell different flavored cheesecake about the many types of reports he has read about and how they will help him run his business. He asks you to help him clarifty what th to set up his inventory, how to classify the costs of his business, and how to fillin some missing information s to restaurants and the general public. He has just begun his study of accounting, and is a bit confused e differences between managerial accounting and financial accoxunting are. He's also wondering how Required: 1. Choose whether the characteristics on the Managenal vs. Financial panel are most often associated with managenial accounting or financial accounting aries has provided some of the costs he expects to incur on the Cost Classification panel Decide on the classifications that could be applied to each of these costs using the table provided. The cost object in each case is the cheesecake 3. Charles found some sample income statements and balance sheets on the Internet, and asked which of them might be most appropriate for a manufacturing business like his. Review income statements A and B on the Income Statements panel, and balance sheets C and D on the Balance Sheets panel. Determine which income statement and balance sheet would be most appropriate for a manufacturing business ike Able Baker Charle Then, on the Financial Statements panel, denote whch income statement and balance sheet would be most appropriate for a manufacturing business 4. At the end of February, after the second month of operations of Able Baker Charle Company, Charles shows you the data he 's collected, but he was unable to figure out some of the amounts. On the Costs and Balances panel, determine the missing amounts Note: It may be helpfu to use T accounts to map the flow of the amounts through the manufactuwing accounts and solve for the missing doflar values eck My Work Previous Blueprint Activity: Managerial Accounting Concepts and Principles Managerial vs. Financial Cost Classification Financial Statements Income Statements ance Sheets Able Baker Charlie Company well is starting a cheesecake bakery, Able Baker Charlie Company, to pxoduce and sell different flavored cheesecake about the many types of reports he has read about and how they will help him run his business. He asks you to help him clarifty what th to set up his inventory, how to classify the costs of his business, and how to fillin some missing information s to restaurants and the general public. He has just begun his study of accounting, and is a bit confused e differences between managerial accounting and financial accoxunting are. He's also wondering how Required: 1. Choose whether the characteristics on the Managenal vs. Financial panel are most often associated with managenial accounting or financial accounting aries has provided some of the costs he expects to incur on the Cost Classification panel Decide on the classifications that could be applied to each of these costs using the table provided. The cost object in each case is the cheesecake 3. Charles found some sample income statements and balance sheets on the Internet, and asked which of them might be most appropriate for a manufacturing business like his. Review income statements A and B on the Income Statements panel, and balance sheets C and D on the Balance Sheets panel. Determine which income statement and balance sheet would be most appropriate for a manufacturing business ike Able Baker Charle Then, on the Financial Statements panel, denote whch income statement and balance sheet would be most appropriate for a manufacturing business 4. At the end of February, after the second month of operations of Able Baker Charle Company, Charles shows you the data he 's collected, but he was unable to figure out some of the amounts. On the Costs and Balances panel, determine the missing amounts Note: It may be helpfu to use T accounts to map the flow of the amounts through the manufactuwing accounts and solve for the missing doflar values eck My Work Previous