BT6e E6-23A v2 Project Description: BT6e E6-23A Steps to Perform: Step Instructions Points Possible 1 7 1. Using the traditional format, prepare Farnsworth's projected income statement for July assuming 4,260 garments are cleaned during the month. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong.) a. Check your spelling carefully and do not abbreviate. b. Enter all amounts as positive values. Do not use a minus sign or parentheses for any values to be subtracted. 2 13 2. Using the contribution margin format, prepare Farnsworth's projected income statement for July assuming 4,260 garments are cleaned during the month. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong.) a. Check your spelling carefully and do not abbreviate. b. Enter all amounts as positive values. Do not use a minus sign or parentheses for any values to be subtracted. Total Points 20 Cost Behavior Prepare income statement in two formats Farnsworth Drycleaners has capacity to clean up to 7,500 garments per month. The following operating data is available for Farnsworth. Amount charged per garment for dry cleaning Variable cost per garment Fixed costs per month $10.00 $0.70 $14,400 Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong. Requirements 1 Using the traditional format, prepare Farnsworth's projected income statement for July assuming 4,260 garments are cleaned during the month. a. Check your spelling carefully and do not abbreviate. b. Enter all amounts as positive values. Do not use a minus sign or parentheses for any values to be subtracted. 2 Using the contribution margin format, prepare Farnsworth's projected income statement for July assuming 4,260 garments are cleaned during the month. Check your spelling carefully and do not abbreviate. b. Enter all amounts as positive values. Do not use a minus sign or parentheses for any values to be subtracted. a. Saving & Submitting Solution 1 Save file to desktop. a. Create folder on desktop, and label COMPLETED EXCEL PROJECTS 2 Upload and submit your file to be graded. Navigate back to the activity window - screen where you downloaded the initial spreadsheet b. Click Choose button under step 3; locate the file you just saved and click Open Click Upload button under step 3 d. Click Submit button under step 4 a. C. Viewing Results 1 Click on Results tab in My AccountingLab 2 Click on the Assignment you were working on 3 Click on Project link; this will bring up your Score Summary 4 Within Score Summary window, click on Download (upper right) to download the spreadsheet with feedback 1. Using the traditional format, prepare Farnsworth's projected income statement for July assuming 4,260 garments are cleaned during the month. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong.) Farnsworth Drycleaners Projected Income Statement Month Ended July 31 Operating income (loss) 2. Using the contribution margin format, prepare Farnsworth's projected income statement for July assuming 4,260 garments are cleaned during the month (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong.) Farnsworth Drycleaners Projected Contribution Margin Income Statement Month Ended July 31 Operating income (loss)
