Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Business Transactions Aria spent the month of December talking to various suppliers in order to determine her cost structure. She added cost data to the
Business Transactions
Aria spent the month of December talking to various suppliers in order to determine her cost structure. She added cost data to the information in Table
A&J Bakery Inc. opened for business on January as planned. During the month of January, the business purchased and used pounds of flour, pounds of sugar, dozen eggs and had bad eggs to dispose of during the month baking soda boxes, pounds of butter, pounds of raisons, bottles of rum, and the other ingredients one box of each for a total of four all from one supplier on account. Manufacturing overhead is applied to production at dollars per cake. Aria purchased the oven using the start up capital and paid all salaries. Her nieces worked hours in total for the month. January was a very good month for the bakery since it baked cakes and sold all for cash. The average selling price was $ per cake. All manufacturing overhead is closed out at month end. The supplier was paid at month end.
Required: Document A&J Bakery Inc January transactions using Taccounts round all calculations to decimal places All other costs such as utilities, must be accounted for in the Taccounts assume such transactions where applicable, are paid in cash points
TABLE : COST INFORMATION
tableItem and Ingredients,Cost,Standard per CakeConventional oven,$depreciated over natableyears on a SL basis Nosalvage valueRefrigerator$provided by the landlordBaking pans, licenses,$paid for by dadnaBaking flour,$ per pounds bag, poundEggs$ per dozen, eggsSugar$ per pounds bag, poundBaking soda,$ per pounds box,Butter$ per pounds, poundRaisins$ per pounds, poundOthers currants diced date,,nutmeg molasses$ for all boxes per month,Cash Register,$ per month rental for Rum alcohol$ per bottle, gtr of bottleUtilities includes gas, electric,$ per month,and water$ per month,Mobile phone business$ per month, person hours perSalary Aria,$ per hour,Salary nieces,$ per month,Salaryaunt,$ per month,Accountant$ per cake,Estimated MOH,,
Prices are excluded from project since due to materiality and to simplify the exercise.
Provided through Boost Mobile
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started